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Patheon Inc Message Board

  • wjk65h78 wjk65h78 Feb 14, 2012 5:37 AM Flag

    CEO buys 185,000 shares

    Mullen purchased 184,700 shares between $1.36 and $1.54/share over the past few days.

    The filing also indicates the purchases were in accordance with a 10b5-1 plan adopted last month - so we can likely expect to see additional purchases by him.

    http://www.insider-alerts.com/Data/20120213/0001181431-12-008236.xml

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    • Clearly this was a head fake and merely an attempt to sucker investors into buying shares prior to the earnings release as Mr. Mullen clearly knew that the quarter/year was crap.

      This was probably the first time I've seen this happen, but gives food for thought going forward.

      Unfortunately for Patheon shareholders, what generally happens when there is some type of artificial/bogus influence applied for jamming investors into a stock, the pullback when those same short-term investors dump their shares is that the stock ends out lower than where it was when that artificial stimulus was applied.

      I'd look for a new 52 week low once this plays out.

      Shame on you Mr. Mullen.

      I'll watch for entertainment purposes from this point.

 
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