CCME had a $1.5 mill. buy by the CFO shortly before the halt.
Aremissoft, a huge fraud in 2001 where all revenue was fabricated like SCEI, had a huge insider buy when they could no longer disprove their critics.
It is a last-ditch, desperate effort when the end is near.
Why do you think that it is fraud company when the CEO is buying the shires. have you noticed that when the CEO of LEE bought the shares the stock went up as the CEO showed faith in his company and put his money to take care of short sellers. This is same is going to happen tomorrow, just wait.
If there was any proved wrong doing then, the perpetrators would have been found guilty in court and the stock would either be trading or the company would not be a going concern.
Since this has not yet happened, CCME is halted because they have not responded to NASDAQ listing requirements. Shorts are still paying interest on their borrowings and longs have effectively lost all their money.
Insider buys, after a company has already lost 90% of its market cap, indicate either they intend to save a company from bankruptcy or it is the last hurrah to raise the stock price so friends call sell.
Help me here Duluth GA.
You apparnetly have more wisdom than I.
Do these insiders actually buy so that they can lose money or do they just report that they have bought when in fact they have not done so?
Please enlighten me.