This Green Mountain Trade Doesn't Smell Right

Stock sales by the coffee roaster’s chairman raise questions
Green Mountain's K-Cup brewer: Competition is brewing from a new Starbucks machine Photograph by David Paul Morris/Bloomberg

Robert Stiller, founder and chairman of Green Mountain Coffee Roasters, sold $66.3 million of his company’s stock before it plunged on news that Starbucks had developed a rival product to its K-Cup brewing system. Stiller’s combined sales on Feb. 15 and 24 were his largest in a single month since at least 2003, when the stock traded below $2, data compiled by Bloomberg show. He would have earned $13.7 million less had he sold on March 9, when the shares fell 16 percent after Starbucks unveiled its machine for home-brewing single cups of espresso and coffee.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.