This guy is too funny. Another 20,000 shares gone, including 7k today at $14.30. The good news is that he only has 46k shares left to sell and then he's all done. He can do that in a day. He seems pretty determined.
Do you really think a complete liquidation of the COO's holdings is possible? It seems to be going that way as a possibility, especially since he sure seems to be in a hurry to dump ahead of 3Q numbers. He's absolutely killing the stock price, not from the shares he is selling, so much as from how it looks to investors and institutions. As COO he may not have a feel for the upcoming quarterly numbers, but any good COO sure has a broad feel for how bushiness is going. With so little faith in maintaining a long term investment in the company he should just join Harry and Jack on the sidelines, and let Armstrong put together his own team to run this thing. And if the 3Q, which ends in three weeks, ends up being bad, his selling should get a hard look-see. Magic doesn't this give you at least a little pause? Forget about what I think, it doesn't matter. The COO has sold about half his entire stockholding just before the earnings reporting period? The company should think twice before giving this guy any more options.
"...As COO he may not have a feel for the upcoming quarterly numbers, but any good COO sure has a broad feel for how bushiness is going"
Well, he was just promoted to COO last month, so I don't know what his mind could have processed in such short tenure that would lead him to liquidate. Secondly, with less than a month on the job, we really don't know if he's a good COO in the first place - rendering moot your point that "any good COO sure has a broad feel for how bushiness is going." Thirdly, the guy was in sales and marketing his whole life. Now he's an operations genius with a masters in market timing?
It stinks to high heaven. It comes on the heels of the former CEO and CFO leaving the company just ahead of a supposed ramp up of the new technology. It comes on the heels of the former CEO and CFO selling stock. It comes on the heels of two bad quarterly results in a row and the inability to match costs w/revenues in a timely fashion. It comes just a few weeks ahead of the end of the 3Q. Even Ferdinand the Bull can spot all those red flags. Insiders are clearly distancing both themselves or their money away from the company, just as "the Helix party" was supposedly about to start. It stinks.