The Lauren family, which owns 10% of Ralph Lauren sold a large amount of shares in the company, and caused the stock price to tumble, according to Stafford Daily. The SEC disclosed that the trade occurred on December 16, and involved the sale of 50, 000 shares at an average price of $179.33. The total sale was $8, 966, 500. The Lauren family now owns 50, 000, valued at $9, 155, 000.
Before the massive sale of shares, Ralph Lauren’s stock price was heading up to $180, and then dropped 2.85% to $176.81. The 52 week high was at $187.49.
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Ralph Lauren was born Ralph Lifshitz to Ashkenaz Jewish immigrants in the Bronx. At 16, he changed his last name to Lauren. When Oprah asked him if it was because Lifshitz sounded too Jewish, he said, “Absolutely not. My given name has the word ‘shit’ in it. When I was a kid, other kids used to make fun of me. It was a tough name.”