Shares of Life360 Inc. (LIF) plunged 5.20% on Monday during intraday trading as the company's CEO Chris Hulls offloaded a significant stake in the firm.
The sell-off came after Hulls sold 863,903 shares of Life360 stock, driving the sharp decline in the share price. This move by the chief executive aligns with his plan to diversify his personal investment portfolio.
Life360, a family location sharing app based in Australia, has faced pressure in recent months amid growing concerns over data privacy and increased competition in the location tracking space. The CEO's share sale has further added to investor worries about the company's prospects.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.