Cody was pushing this garbage at $35+ - so you have to wonder why CEO is continuing to sell at $25 - hmmmm?
Please don't reply "well, these were preset sales under a 10b5-1 plan" - a sale is a sale. The 10b5-1 plan can be canceled at any time if he decides the stock is too low and he doesn't want to sell any more. Obviously Kennelly is happy getting $25 for the 130,000+ shares or he wouldn't continue with the plan.
"I was wondering when our monthly post about insider selling would arrive. For those who don't know why these automatic sells occur this is a good explanation linked below."
Which is why the bulk of my post was specifically about the nonsense regarding 10b-1 sales and how folks like yourself gobble it up, as though the sales meaning nothing.
A sale is a sale. For whatever reason the insider is selling. Surely you cannot chalk it up to being a positive indicator as a reflection of the company prospects - can you? If we look the other way and go by the sheeple definition fed to you by places like Investopedia, then it's a neutral indicator at best.
In my eyes, if any insider is selling for any reason, then it is a guaranteed indication that he/she believes that they will get a better return/value on their money not having it in the company's stock. It may mean using it to pay for their kid's tuition, buying a new home, or even for diversification - whatever, doesn't matter, it is still an indication that the insider places a greater value somewhere other than in the company.
Insider selling is usually not a good sign. This particular sale shows that not even the CEO has confidence in the value of the stock. He thinks it's overvalued but he can't come out and say it so he's trying to let investors know by selling. And he's also thinking of himself. Look for sub $20 soon. Also look for more insider selling before the end of the month.
He's not selling a whole lot in comparison to his total holdings. Insiders sell at times not because they don't have confidence that there stock will not go higher, but at times to raise cash to use for the companies expansion; such as more advertising or new product research, etc. This is good because they will not have to incur new debt.