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  • youcanpickum youcanpickum Nov 23, 2009 7:38 PM Flag

    ASHRAF IQBAL bought most of his shares in the $2-$4+ range

    No one would drive down the stock by shorting 1/3 of the float in order to make a hostile bid. They would have to reverse and cover driving the stock much higher to just be flat.

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    • So we have our answer. The seller was Ashraf Iqbal on 11-19 who sold over 2 million shares at an average price of $1.84 according to the s4 filing. So why? and why after the earnings call? The good news is that the market has absorbed this size quite well. I imagine a selloff on this news from the fast money crowd who will now want to go away. I will also guess that he was part of the November 20 selling that occurred and will file tomorrow. I believe you have 5 days to file. Glad he is not my money manager.