Macy’s Ceo Buys Stock

Macy's Inc. (Cincinnati) CEO Jeff Gennette recently bought 13,085 shares of Macy's stock valued at $300,299, bringing his personal total to 89,053 shares, valued at $2 million.

The purchase is being interpreted as a vote of confidence in the company after Macy's stock has fallen to the lowest point since its recovery from the Great Recession, reports the Cincinnati Business Courier.

Macy’s stock is currently valued at around $23, where it rose to in 2010 after falling to $8 during the Great Recession of 2008.