You are 100% CORRECT, sir. Want to know the sort of responses you'll find to your accurate statement here on the EXEL support group board? I'll give you a sampling..
"Why would insiders buy? They already have enough shares!"
"Why would insiders buy? They get shares for free in options!"
"Why would insiders buy? Not only do they get shares for free in options, but they also get even more in bonuses!"
Those sorts of comments are quite comical. And they are also complete b******t. DO you think all those insiders who LOAD UP on their own shares in the open market in every other company DON'T GET OPTIONS as part of their vested package? DO you think all of those insiders don't "already have enough shares" as part of their options package? Insiders buy for one reason...THEY THINK THE VALUATION IS CHEAP. Period. End of story. Insiders who had PLENTY of "free options" loaded up in EXEL few years ago when they felt the valuation was cheap...and they were spot on at the time. The stock rose 100%++ subsequently.
They fact there there are no insider buys up here is indeed very telling. Don't let the pom-pom waving perm-bulls of the past three years here tell you otherwise. They have their heads buried so deep in the sand they have forgotten what daylight looks like. They continue to get creamed in their holdings. It's the way they (and most in this game) are wired. GL
Clem!! I knew you wouldn't fail to disappoint! "They have so many shares they don't need to be buying"....I LOVE IT!!! LMAO!!!
I see you have a brand new set of sparkling pom-poms! Do you have the daisy dukes to get with 'em?
Totally agree and ahead of FDA decision, still no insider buying. Thus, the very reason I scaled back my long position significantly ahead of Nov. 29th. Once I noted low volume and a very short lived small pop on FDA approval, I dumped my remaining long shares and went short. I just covered this week and now have no position at this time.
I had hoped the stock would drop hard below 4 before I covered my short, but I'm now in the camp support is likely in the 4+ range.