Dimon said to buy 500,000 shares of JPMorgan stock after slide

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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon bought 500,000 shares of the bank’s stock on Thursday, a person familiar with the decision said.

Dimon paid about $26 million for the shares, the person said, asking not to be identified discussing the purchase before its public disclosure. JPMorgan tumbled 20 percent this year through the end of regular trading in New York amid a global selloff in equities, led by financial stocks.

JPMorgan advanced 1.8 percent to $54 at 5:13 p.m. in extended trading. The Wall Street Journal reported the purchase earlier Thursday.

(Bloomberg)

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