I can't post the link. On the sidebar of the summery page go to Market Pulse.
Neonode Inc. director just picked up 65,322 shares
John Ralph Reardon, a director of Neonode Inc., recently acquired 65,322 shares of the company. The buys took place at prices ranging from $1.38 to $7.49 per share, on August 12, 2013. Reardon now owns 150,034 shares of the company. Reardon operates out of Carlsbad, CA.
This explains the recent price drop. Insiders cashed in on a ton of options (over 1 million shares) at $1.37 per share, but sold enough (~20%) in the open market most likely to to pay their taxes. So Neon has an extra $1.5 mil. in the bank and a few lucky people bought in the 6's before the next leg up.
You guys come up with more nonsense for reasons behind price action. If you are a long term investor, make sure the weekly and monthly charts are in your favor. If you are worried about day to day price action, take some technical analysis courses so you will understand how it works. News, press releases, insider transactions etc.... if just noise
Nadullah62, the inside selling was due to buying 5X as many option shares. They had to pay for them somehow, so they sold enough to buy these options at $1.37 per share. As I indicated earlier, insiders purchased ~1.1 million shares at $1.37, netting Neon about $1.5 million. In order to buy these shares, insiders sold just over 200k shares at over $7 per share....get it?