It seems to me someone leaked the earnings disappointment back in March time frame. Typically, EW trades fairly stable regardless of market conditions. EW stock started free falling in March from $89 to $79. It then recovered to low $80s. News must of leaked around this time frame. By then, it was obvious EW was going to miss their numbers.
As of yesterday, EW stock gapped up at the open only to see heavy selling going into the close. Is it just me or someone in the "know" KNEW what will come next in afterhour trading...?
It may or may not be insider trading but EW NEVER drops $10 in March without any news!! Now, we KNOW why!!!
Do yourself a favor and read the announcement made by EW which was published right on this board. It's all explained there. The CEO is excercising options before they expire and is selling 29,500 shares per month (but I believe he is buying them right back)
It probably did not just 'leak'. Forbes has a story about the CEO bailing out a few weeks before we all got wasted. He got out at $83. This is just like the FIO tale, with most of management bailing out and then the stock tanking on the bad revenue and earnings news. Can't understand why the SEC does not investigate this activity, even when the sales are outside of these individual's prior sell programs. Eventually shareholders catch on though and stop buying stocks whose management does this (PRANA, FLEX, OMN, BGCP).