Thu, Jun 20, 2013, 5:31 AM EDT - U.S. Markets open in 3 hrs 59 mins
insider be selling over 200,000 around $3 a few days ago?
don't be paranoid with any insider's selling. They just like us who want to lock in some profit and/or need money especially in holiday season. Unless you see more than 5 of them sell with large percent of shares then you would be worried.
Chances are they are trying to lock-in Long-Term Capital gains built up for financial reporting and tax purposes.Same reason why some funds will sell at a loss for tax and financial reporting reasons at EOY.Now $10 stock.. depends on your time horizon.Near-Term I don't see us getting to that. $5 is definietely a more practical and realistic target given the current factors affecting this stock along with others.
He owns over 10% so he is correctly classified as an insider. Thanks anyway
Austin Marxe is not an insider, that is Special Situations fund which runs $1BN in NYC. They are a hedge fund.