Here is the reason CNIT back to $3.00 - Sorry people:
The Compensation Committee of China Information Technology approved the grant of an aggregate of 3 million restricted shares (the “Shares”) under the Company’s 2013 Equity Incentive Plan (the “Plan”) at a purchase price of $3.00 per share to some employees (the “Employees”) of the Company. The Shares are vested immediately upon the grant.
This can not end good. The trash penny stock pumpers are going to make you lose a lot of money. Just search CNIT penny and you will see all the trash pumper sites. You buy and they dump the stock. Sorry, this is the way they work.
My point about insiders is that there are not many insiders buying. If there was real news or reason for the company to gain in value, then the insiders would be buying a lot more shares.