Guess needs to get a clue. I went looking for a T-shirt at the mall this past Saturday and ventured into Guess. Well, the T-shirt was simple, with a print on the front, and the price tag read $32.99. I saw some 50% off signs in the store and figured this thing has gotta be half off that price, if not more. I asked someone to ring it up...$32.99...no discount. Then I realized the store was pretty void of customers as well. I just chuckled at the salesperson and left. Next I ventured to GAP and found s similar shirt for $10. SOLD!
Does it really matter at this point? They've gotten more in $$ from all their stock dumping than the entire current market cap. Many insiders got burned holding their stock too long (Sheldon Adelson, Sumner Redstone) but the Marciano Bros made more than a billion dollars dumping all their stock.
They could careless if GES goes to 0 at this point...they pretty much suckered all the institutions to give them money at $30-50 a share. But if the stock does somehow get over 30, I'd expect a new wave of insider selling by them.
The new SEC chairman needs to write new rules on timing of insider trading. Current rules allowed the executives at Countrywide, New Century and Guess to dump all their stock before their stocks got crushed. Yes you have to file a stock selling plan, but you can change the plan as often as you want, which makes it a joke.