Market up 150+ but MITK down almost 1% - wow!! little jimmy knew what he was doing when he sold, didn't he??
he knows more about where this stock is going to than all the cheerleaders on this board combined. nobody sells stock at $4 - $5 if they remotely thought that it would actually go back to $12...especially CEOs who are in the know.
When asked about this last year Jim mentioned that the sales were automatic to sell a portion of his options. If you look at the timing of this sale, it's almost exactly one year after the last sale. I'm not worried about this sale and will hold on to this...
Many of the company officers will set up an automatic sell program both for estate reasons and even more important it provides them with a safety net against cries of "insider selling" when due to the timing of some corporate transactions it would look bad to see that the officer sold just prior to the release of undisclosed information. I think it's a wise idea.
so are you saying that jimmy had no way of getting out or changing the execution schedule of the 'automatic option sales' document he signed when the stock price was high? if so, he must be the most miserable man on the planet knowing fully well that he is getting screwed by selling at $4-$5. do you really think the board would force him to sell??