Bernard Arnault spent $230 million on LVMH shares after disappointing earnings hit stock

Bernard Arnault spent $230 million on LVMH shares after disappointing earnings hit stock

The French luxury tycoon took the opportunity to buy the dip.

Bernard Arnault Has Spent €215 Million Buying Dip in LVMH Stock

Billionaire Bernard Arnault has bought €215 million ($230 million) of LVMH shares since the luxury conglomerate’s disappointing earnings in late July contributed to a drop in the stock price.

Billionaire Bernard Arnault Purchases €215 Million of LVMH Shares Post Earnings Dip

Summary: French billionaire Bernard Arnault has acquired €215 million ($230 million) worth of shares in luxury conglomerate LVMH Moet Hennessy Louis Vuitton SE. The purchases were made through Arnault’s companies, Financiere Agache and Christian Dior SE, in the wake of LVMH’s disappointing earnings report in late July, which led to a decline in the stock price. This move by Arnault suggests his confidence in the company’s long-term prospects des…