Heyer sold 500,000 shares Jan. 7th. Now has zero. So, no more selling pressure from him. His cost basis was very low. Congrats Andrew, and thanks for the investment. However, we are glad to see you out.......next stop, $3.00
Andrew Heyer's selling can only be interpreted as a positive insofar as the benefits to reduced preferred dividend payments. So far, Mr. Heyer has been right to sell his stake along the way. JMBA has come a long way since 2008, however, most of the success was priced in immediately, which is why the stock has gone nowhere for 3 years. A man who used to sit on the board and has a much more intimate knowledge of the business than any of us is selling. While his average price is $1.15, no rational human (especially one who has the most to gain of any JMBA shareholder) would choose to liquidate his stake unless he had questions about the direction of the business. I could see him selling half to "take some off the table". But liquidating a stake in its entirety sends a much louder message.
this is similar to his previous pattern dated jan 2011, note this is probably to cover his estimated payments for taxes, those that make enough to know withholding isn't enough know when it is due this month.