Ackman has about 39 million JCP shares and he will be allowed to sell his stake after earnings are released on Aug 20th. This is one of his investments gone bad, he will look to exit his position the first chance he gets. Based on average trading volumes, it would take him 24 days to liquidate his entire position.
Post Q2 is when the fun begins.
he will look to exit his position the first chance he gets.
Read the SEC filing - - - pay special attention to Section 2.01 (a) and 2.06 (a) - - - then come back here and make the same statement - - - - - orrrrrr post it on Motley - - - people that read them seem to eat up that kind of stuff !!!!!
Restricted shares are sold only to some executives of the company and certain shareholders in order to keep them from selling them off. That's what Ackman has, that's what that filing does. That's what JCP is locking him into until he owns less than 5%. You people are clueless.
But no one in JCP likes Ackmen, why would they buy Ackman's shares to help him out? Board and top management got their free shares when then took the job, that's why they don't care about the stock price drops like investors. Would it be possible the board agree to use the little JCP cash to buy Ackment's shares?