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Word Count: 493
In August of 2000 Enrons stock price hit its highest value of 90 It was at this point in time that Enrons executives who possessed the inside information of the hidden losses began to sell their stock At the same time the general public and Enrons investors were told to buy the stock as the sky was the limit Enrons executives told the investors that the stock would continue to climb until it reached possibly into the 130 to 140 range while secretly unloading their shares as they knew the opposite to be true As executives were selling off their shares of stock the price continued to drop As the price dropped investors were told to continue buying stock or hold steady if they already owned Enron because the stock price would rebound in the near future Kenneth Lays strategy for responding to Enrons continuing problems was in his appearance As he did many times Lay would issue a statement or make an appearance to calm investors and assure them that Enron was headed in the right direction By August 15 2001 Enrons stock price had fallen to 42 compared to its high of 90 just a year prior Many of the investors trusted what Lay was telling them and still believed that Enron would rule the market The investors continued to buy or hold onto their stock and lost more money every day As October closed the stock had fallen to 15 per share and many investors saw this as a great opportunity to buy Enron stock because of what Kenneth Lay had been telling them in the media Just under a month later on November 28 the stock price would slip below one dollar as the public was finally made aware of the millions of dollars in losses that Enron had been hiding Enron CEO Kenneth Lay has been accused of selling over 70 million worth of stock at this time which he
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