Kerkorian's Tracinda Sells 7.3M Shares Of Ford (F) Yesterday

Kirk Kerkorian's Tracinda lowers stake in Ford Motor Company (NYSE: F) from 6.43% to 6.09%. Yesterday Kerkorian had his Tracinda Corporation sold 7.3 million shares of Ford stock for an average sales price of $2.43 per share.

Kerkorian's team said it reduced its Ford holdings to better focus on Gaming & Hospitality and Oil & Gas. Tracinda sees unique value in the above industries. More to come later.

This is not a good sale for Kerkorian as he bought at much higher prices, somewhere in the $6 to $8 range.

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