I WONDER WHY KEVEN PALATNIK IS THE ONLY INSIDER THAT OWNS A TINY AMOUNT OF ADNC ?
I WONDER WHY KEVEN PALATNIK IS THE ONLY INSIDER THAT OWNS A TINY AMOUNT OF ADNC ? When you look at each of the other insiders, they each own only a thousand or two shares. Funny thing, the stock had no problem at all water falling to 9.00 even with Palatnik's recent larger block purchases at 14 and 15. Todays' 10k is a much smaller buy. You think if Palatnik was high on ADNC, He would bring it with the big gun and buy at least 40 to 50,000 at 9 and 10/share, right? This doesn't smell right? Earnings still declining and margins gettting whacked every quarter.
Actually, there's more than just one guy propping the stock, you're ownership of the "worthless" shares are also propping the stock in the short run. Just take a close look at the earning estimates from all the earnings estimate sites out there. THIS STOCK IS JUNK. Once again today, this piece of dog poo is down 1.5% in an up market. I WOULDN'T BUY THIS STOCK WITH YOUR COUNTERFEIT MONEY! Just admit you are wrong on this name and move on. This is the best advice I have for you and anyone in this stock.
Actually the VP of Engineering bought 100K shares last year also. Kevin has bought 20K shares in the last few weeks. That's not chump change. He believes in the long term prospects of this technology. I also think Q3 sales have shot up due to increased mobile sales on their standard clients such as Apple and Samsung but particularly on the upstart Xiaomi.
It's interesting how the head of this company bought a much larger block last year at much higher prices, and this year he's tippy toeing into shares in tiny lots at far lower prices. Sounds like a man who simply wants to "try to convince others that his company is more than it really is"... "Just another bells and whistles fly by night come and go name that nobody has heard of". Ask anyone who Apple and Samsung are, and everyone knows them as household names. Ask same people who "Audience" is and they look at you cross-eyed and say "uhm, that's easy, it's what shows up for a concert". LOL! I'm certainly not convinced that there's anything new that's worth getting excited about here other than a company head supporting his own stock by buying a small position on the way down.
He can invest how he chooses.... Better to be diversified even if you have confidence in a company. I'm never a fan of a board that doesn't invest in the company they work for, but that's not uncommon either...
Looks more like a CEO solely trying his best to stave off a declining stock price to me. Some stocks are just un-rescueable. There are just so many more better companies out there with more dependable earnings and higher business climate visibility than this little 3rd party maker of specialty add-on bells and whistles company. I own a tiny position so if it actually does gain a few points, I'd be a seller with both hands. It's just a come and go technology that larger cell phone producers are duping without much problem. I know this for a fact. I have a family member in the engineering side of Apple.