He got a MARGIN call !! Read the fine print:
"Pledged shares sold pursuant to margin requirements of lender."
Take advantage of this and BUY at these levels.
A margin call - laughable. Only a total moron would be on margin with this turd. But sure says a lot about the quality of management - even they were part of the cabal propping up this over valued turd. And now he (and all the other pumpers) are getting their hat handed to them.
Will be interested to see how low this turd collapses when the well results are released. HUSA isn't worth $2 share based on better funded comparables like PetroDorado (who also have better concessions).
And what happens when this hits $2? Yup, that's right. They have to go hat in hand to the market to try and raise enough cash to drill the next wells - but that's what happens when your bank accounts are almost empty. As such, get ready for massive dilution...
Yeah, tawes sold over 400,000 shares since last week of March, all the way up to yesterday. that kind of says a lot, eh? Based on what I see the stock price is doing, it looks like he is pretty smart. He has been selling since a couple of bucks ago.