Hitchwood Capital sold its entire position, liquidating 2.5 million shares. (fortune.com)
The company, which has approximately $ 30 billion in debt, saw its stock drop to all - time lows as it dipped under $ 11 per share on Tuesday after news emerged that Ackman and his hedgefunder were selling their entire position of approximately 27 million shares. (fortune.com)
The lower the cost basis of each subsequent purchase, the faster the average weighted cost basis of the entire position is drug down and the more shares the investor accumulates which, themselves, pay dividends. (thebalance.com)