for whom? this scam has nothing to do with ACOM.
an aside, this very scam happened to my elderly mother-in-law. nearly succeeded but the bank refused to give her the $7000 and her financial manager insisted on directly contacting the "prison." i thought it was a common scam.
fortunately her son happen to drop by late in the day and he was the one who was supposed to be stranded in prison in canada.
been in ACOM since the IPO 15 months ago, considering adding here.
This is very troubling, especially on a day the market is making new highs.
Barring a strong bounce ACOM is closing below its 20-day average for the first time since January 3 and also below its uptrend line from the September breakout. All this is occurring on higher volume, and one day following a breakout to new highs.
This could be a one-day event designed to shake out some weak hands, but it is scary nonetheless.
As far as the CFO selling, I don't pay much attention to that. Insiders have to cash in once in awhile.
The CFO sold 100,000 shares. Not a positive sign to do that just before earnings. At 55 x's earnings the short positions are starting to creep up. I wanted personally to hold until earnings hoping for a pop but sold myself and made about 20% from buying it just before Christmas. Traders might have used the insider selling as a catalyst to shake out people like me but its working. I made just over $1000 U.S. but up here in Canada it will only be about $900 after conversion. Never hurts to bank a profit though, I hope your are up also being faced with this situation. CFO insider selling just before earnings was the last thing I wanted to see.
its down b/c it is up alot some profit taking nothing to do with CFO selling 9 times out of 10 it was a planned sale just happen to fall before earnings. If i got freak everytime insider sold shares i would have lost out on a lot good gains in other companies I own. But as usual message board critics love selling panic. I bought more on todays pullback, but if your are worried put in a stop.
Oh, I don't know. Maybe because its doubled in like 6 months? How long have you been investing? Don't worry if you're long as there are lots of people and funds ready to buy this stock once a little air comes out of it.