CEO sold 26k shares this month? dont like that at all
I know someone posted he sold to pay taxes but come on! The CEO needs $40k to pay taxes? the stock was at $8+ not that long ago and this guy is selling at $1.20 and $1.60 ? seems kind of weak to me. Anyone else not like to see that?
I know I will get some bad feedback on this fro the lifers here, however, Brr does have a good point. I am not buying the taxes argument. IMO, Corrigan knows he has until March (quarterly out) to get Z to rise, because when the QR is released, bad news will be forthcoming.
This POS can't hold two bucks, has a hard time staying above $1.80, and will likely re-test the $1.50's very soon.
I wish I held rather than selling at $1.36, but had I, all of it would have been dumped as soon as it hit two bucks.
Good luck to all you folks holding. What do I know anyway. I got burnt with the rest of you Z lifers.
thanks for the comments Jim, I still don't understand it at all. There are other biotech's where insiders are buying this time of year not selling. The guy probably has $40k cash in his bank account, why not pay taxes with it and keep the shares if he thinks they are worth $5-6.
Seems like a weak move to me. Seems a bit odd that there wasn't any insider buying when shares are down as much as they are, guess these guys are as unsure about the prospects as we are.