no sign of letting up is horrific. In the last 3 mos they sold almost 7 mil. shares and bought none. In the last 12 mos they sold over 30 mil. shares and bought only 452,000 shares. Institutions are sick of this as they have sold also; over 20 mil shares. So much for the continued speak of Buffet buying shares. He bought none. Why would he with this unending insider selling and with no real sign of a turnaround which has been going on for 5 yrs now.
Appears as though some Russians may have been buying before the news came out. Little do they know that their investment will be obliterated by this continued selling by the Fishers. It never ends. The real problem is that the co. just buys back what they sell then issues them more options which they sell and the co buys them back. Would GPS be this low if they were buying more in the open market?
Just to let you know the insider selling means nothing. Coming from a former Store Manager with them Bob Fisher commented back in the fall that he and his parents will often sell shares to even out their portfolio. But I would definitely agree that they use Gap as a piggy bank, Don and Doris are probably using this money to fund their new museum in San Fran.