Insider selling before cutting earnings projections
Imagine in the few weeks before guiding the street to the shallow end of the pool, insiders locked in gains of $3.4 MM by selling over 78,000 shares. The treasurer, a director, the VP sales, the controller and, the most egregious sale...the COB made a splash with a $1.9 Million sale. Just an observation but...chances are these folks didn't know ANYTHING about restating guidance, did they
I am sure it was just a coincidence. What information could upper management have.
I wonder why Horizon and their new financing division couldn't bail them out. They did state in one of the statements that is was partly due to stiff independent competition. Is David starting to eat Goliath's lunch