Argan, Inc. Director William Griffin sold $32 million worth of company stock. The transaction executed at a price of $643 per share. This sale reduced Griffin's total stake in the company by 35%.
The trade represents the largest single insider sale of Argan shares in the past 12 months. The divestment occurred during a rally where the stock gained 22%. This price surge added approximately $1.8 billion to Argan's market capitalization. The stock gains occurred over a five-day period. Griffin sold the shares below the current trading price.