Financier Kirk Kerkorian sells Ford shares at a loss

Financier Kirk Kerkorian has sold his shares in Ford Motor Co.; this comes just six months after he purchased his shares. He is selling 7.3 million of his shares for just a small fraction of what he paid. Kerkorian sold the shares on Monday, for an average of $2.43.

Reports say that Kirk Kerkorian could offload the rest of his 133.5 million shares, this adds to a 6 percent in The Ford Motor Co. Ford shares closed down 7 cents on Monday to $2.33 per share. Things are certainly getting bleak for the giant automaker.

Kirk Kerkorian purchased 100 million shares back in April for an average price of $6.91. He later purchased another 20 million shares and followed that up by another 22.3 million shares. Kerkorian will now be looking back and thinking that this was one of the worst business decisions he has ever made.

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