Donnez Karim, the Chief Executive Officer of LiveWire Group, Inc. (NYSE:LVWR), recently sold shares in the company, according to a filing with the Securities and Exchange Commission. The transactions, which occurred on November 27 and November 29, involved the sale of a total of 11,997 shares of common stock. The sales come as LiveWire's stock has declined nearly 48% year-to-date, according to InvestingPro data.
On November 27, Karim sold 9,202 shares at a weighted average price of $6.05 per share, with sale prices ranging from $6.00 to $6.24. This transaction resulted in proceeds of approximately $55,641. Subsequently, on November 29, an additional 2,795 shares were sold at a price of $6.00 per share, amounting to $16,801.
Following these transactions, Karim holds 453,977 shares of LiveWire Group. The company, known for its focus on electric motorcycles, continues to navigate the competitive landscape of the automotive industry. InvestingPro analysis indicates the company faces profitability challenges with negative gross margins, though it maintains strong liquidity with a current ratio of 3.54. According to InvestingPro's Fair Value model, the stock appears overvalued at current levels. Discover more insights with InvestingPro's comprehensive research report, available for over 1,400 US stocks.
In other recent news, Harley-Davidson (NYSE:HOG) reported a downturn in its Q3 2024 earnings call, attributing the decline to a challenging market environment. The company experienced a 13% drop in global retail sales of new motorcycles, a significant 26% decrease in consolidated revenue, and a 49% fall in operating income. Despite these challenges, Harley-Davidson's financial services saw a 10% increase in revenue. The company has revised its full-year outlook due to these recent developments.
Meanwhile, LiveWire, Harley-Davidson's electric vehicle division, has expanded its strategic partnership with KYMCO to develop LiveWire's first electric maxi-scooter. This new venture aims to combine LiveWire's S2 powertrain technology and KYMCO's extensive experience in scooter innovation, targeting the European market. The scooter is expected to launch in the first half of 2026 and is planned to be distributed globally. This collaboration builds upon the existing relationship between the two companies, which began in 2022 when KYMCO invested in LiveWire. These are the recent developments in the companies' operations.
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