A couple of big sales then this buy at $32.05 so I am not concerned. There can be all kinds of reasons for a sale but only one reason for a buy.
Lennon Jonathan 10% Owner – – • 2014-06-13 4 B $32.05 $324,578 I/I 10,000 923,361 1.5 2%
Two recently appointed directors, Adam Wright and Patrick Walsh, who came from hedge funds dumped 475,000 shares last week. Not sure if they were taking profits, covering margin, or having anything to do with their new board seats. Short interest is still growing, up to 541,000 shares so still some potential covering to be done. Considering there are only 7,000,000 shares outstanding and 475,000 got dumped last week, there was bound to be some downward pressure on the price. Once they are done selling, we'll level off. Nothing having to do with operations though. Obviously the directors can't be dumping stock on some kind of insider knowledge because it is illegal.