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FIO Message Board

  • embarrassing1234 embarrassing1234 May 13, 2013 3:01 PM Flag

    The reason you should NOT buy FIO

    The co-founders bailed and the stock got hammered. I always view cases like this as a buying opportunity - it's at least worth looking into, right?

    While there are many reasons you could argue to buy this stock now, there's 1 problem: Insider selling in 2013. Here's the breakdown:

    January 2013 = 85,124 insider shares sold
    February 2013 = 51,083 insider shares sold
    March 2013 = 44,584 insider shares sold
    April 2013 = 166,208 insider shares sold

    346,999 sold in 2013 and how many were purchased? ZERO! In April, it was five different insiders selling (I don't know about the other months). The co-founders bail suddenly and insiders have been selling all year... something stinks here. The arguments to buy this stock sound good so investors want to play the upside here but they know something is wrong.... that's why they are buying CALLS, not stock. Of course FIO "reaffirmed guidance", what else are they going to say? You think they'll say "The co-founders left and oh, by the way, we're cutting guidance"? They'd never say that when they're abandoning ship.

    For those of you who own the stock, I hope I'm wrong. For those of you who are interested in buying the stock, I'd strongly recommend against it.

    Sentiment: Strong Sell

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