Two weeks ago the stock was hovering around 6.20 after a kinda wishy washy upgrade. Immediately after that they announced that certain managers will go on a selling rampage. This is the most horrible PR you van imagine for a stock teetering around its historic lows and close penny stock status.. They managed to dump 50k stocks to raise 250k at a cost of a hefty 12 million worth of market cap.. Maybe their personal credit ratings are so lousy that no bank will offer them any loans based on their stock holdings OR, OR they realise like no other that the stock will not recover for the foreseeable future.. Is there any real reason why we should hold on, or is this a clear cut case of swallowing our (hefty) losses and moving on?? Remember they must announce their guidance or at least plan the q4 CC.. The silence is chilling.. suggest to change the ticker name into CUR(S)E
John Prior, the COO who recently sold the 50,000 shares was not one of those who had borrowed within the past year to puchase any shares. At least Yahoo does not list him as a buyer since August of 2003. So as a prior to 8/03 holder one wonders why he sold. Among the reasons you suggested as well as other reasons:
1. Needed the money to pay off personal loans or to pay off for special expenses.
2. He has no faith in the company and thinks CURE will even tank more.
3. Maybe McConnell is planning to dump him and bring in another COO who can do a better job. I am hoping this is the reason he is selling his shares.
It seems that you and I are the only suckers still holding on and hoping for the best.. We fell victim to the worst possible investment scenario.. We are now delivered to the mercy of an incompentent management.. There is no damage control here, there is just a compilation of tricks and slithering from May 2004 untill this day. I have no idea what they thought when they announced that they have "settled" with California while they just gave up, I have no idea what they think about the fact that they promised to offer guidance in Jan. and by now it's almost time to announce Q4 results, I have no idea what they thought will happpen when they announced a selling rampage when the stock was near 5 year lows, Do they know waht thy are doing???Are they trying to spread the bad news evenly?? Why don't they just spill out all the shit at once?? Is it too bad?? nobody knows., In the meantime the heavy selling is continueing even at these levels..I just have no clue if we will ever recover somewhat, forget 9 or 10.. I think that is a pipe dream by now...If I didn't own the stock I would have pushed for a class action suit. This is the best stock for any short, It just goes down, down and down,,
Smart observation.However, announcement of loan repayments is strange too. Why did not they just fill out necessary forms and sell their holdings without any announcements? It might be that they just wanted to give stockholders explanation of insider selling hoping that it will help him to hold stock price?