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Magal Security Systems (MAGS) Message Board

  • sunny_days365 sunny_days365 Apr 26, 2004 11:16 PM Flag

    Everyone needs to think about this!

    I don't have a position in this stock. I am interested because if the earnings are good, I will buy again. I bought at $32 last week and finally sold at $26 this week. I lost $4000 real fast.
    What is really bothering me is that I cannot understand why the CEO would sell all of those shares if the earnings were going to be good. I know that alot of people have tried to explain it, but I just don't buy it. He is not a stupid man, and he certainly knows alot more about the earning report than any of us.
    If anyone has a really good reason why he would do that, please post it.
    Thank you and good luck to all.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • thank you and to you as well

    • Again thanks for your help. It may turn out that my mistake was selling at $26. I will be watching. I plan to get back in at some point. Hopefully, I won't wait too long.
      Good luck to you!

    • i must, i am long...very long...bought on the way up...bought more on the way down......avg cost now 25...so yes...i am losing money...in a word...yes....bad chart reading on my part...a 50% retracement from the high should have been expected as any normal movement with this type of low float volatile stock...especially after such a large run up...we ALL make mistakes...you were probably smart though taking your loss and then re-assessing...not that i am comfortable...one would only be comfortable with this stock if they were planning their purchases carefully to add on dips and have at least a 2 to 5 year horizon....but yes i do believe in the company and their prospects and the industry they are in...

    • Thank you very much! I appreciate all the help.
      Also, I do think this is a good stock. I think I just jumped in at the wrong time.

    • this board has been talking about that for weeks...don't be so lazy and do some research

      • 1 Reply to aaogm420
      • You know what? It may surprise you, but I am not lazy. It's just with all the bs posted on this board, it's hard to know what is true.
        It is a fact that the CEO sold approx. 400,000 more shares than he said the was going to on the televison interview. Now I happen to think that if he thought the stock prices were going to go up after the earnings report, he would wait and sell for a higher price. That is just common sense.
        My biggest mistake was thinking this stock was worth $32.00 a share last week. I thought that based on my research, which evidently wasn't that good. But it wasn't for lack of doing it.

    • If not now but when? Shares need to be sold to pay back loan need to be sold eventually, why not let it settle down so that he and Mira Mag can ride the stock without liability?

    • The C.E.O. had an interview for Israeli TV - also shown on CNBC. He was asked if the stock price was high-This was when the stock was 16-17 and he said it was high. That is why he sold; to diversify. He was also asked if it was " very high" and he replied that he did not know if it was "very high". He said he sold 1/2 of his position and decided to keep the rest.It is very clear to me that he felt the stock was a good sale at 16-17 and of course he did not know how much higher it would be hyped.He was very up front. Now, if other's wanted to believe the BS on this board that is not his problem - Buyer Beware!!!

      • 2 Replies to inclineal
      • Good point! I take full responibility for my own losses. I am not blaming him for the drop in share price. I just don't believe that he would be so naive not to know how the earnings were going to effect the share price. With that said, I agree there is alot of bs on this board.

      • that's your spin- this has been addressed so many freakin times! EZRA also said he sold the stock to repay currencies he borrowed to Invest in the company- no brainer- $4.00 stock jumps to $16.00 - what would you do? He also said he was not knowledgeable about investing (duh) only security! Which would also answer the question about not enough news (for this board) the management just wants to run a security company...

    • The best explanation I can think of is if earnings are great NO ONE WILL EVER QUESTION insider selling in this company.....There will be no question of ethics,. impropriety etc..If earnings are bad and he sold then he will have destroyed this companies reputation for years...right when it is ready to be a real player ..Thats my take..if he sold knowing ea rnings are great...He' squeaky clean and respected forever!

 
MAGS
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