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Post by orlon on May 9, 2015 11:48:10 GMT -5
As much as I hate to mention The Street and AF, he did have a point when, during the CC, Hakan mentioned he stopped his insider selling (based on comments from others that it looked bad.) As AF pointed out, if AFREZZA is such a great product, why is the CEO selling stock instead of buying? As CEO, he does not inspire much confidence, especially when you are named CEO and immediately start selling your stock...options or otherwise.
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Post by harryx1 on May 9, 2015 11:59:33 GMT -5
Are you familiar with insider trading? It doesn't take a rocket scientist to figure this out yet people will still believe AF that it's no big deal if you are CEO, CFO, etc that you can just go and buy/ sell stock at any given moment.
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Post by EveningOfTheDay on May 9, 2015 17:17:44 GMT -5
As much as I hate to mention The Street and AF, he did have a point when, during the CC, Hakan mentioned he stopped his insider selling (based on comments from others that it looked bad.) As AF pointed out, if AFREZZA is such a great product, why is the CEO selling stock instead of buying? As CEO, he does not inspire much confidence, especially when you are named CEO and immediately start selling your stock...options or otherwise. Personally, I could not care less if Hakan sells a few shares out of the 3+ million shares that he controls. It is a non issue. I was a lot more annoyed by the fact that he felt a cc, where little of sense was said, was a good place to come out and mentioned he had cancelled his automatic-sale plan. I just showed that the pressure is getting to him and that he is rather reactive, when he should be proactive.
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Post by orlon on May 10, 2015 11:24:53 GMT -5
There is a certain psychology in the market that investors look at when buying a stock. When the market sees a CEO selling his stock, they think one of several things: He/she is selling for tax purposes, a divorce settlement, or the health of the company is not good. I felt a little uneasy when I saw the new MNKD CEO selling shares on a regular basis, something Al Mann did not do. I don't care if Hakan has ten million shares, he would have demonstrated his confidence in the company even if he bought only 1,000 shares/month instead of selling on a regular basis.
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Post by mnkdorbust on May 10, 2015 11:52:35 GMT -5
Due to all of the secrets that us shareholders are or appear to be in the dark on I would suspect that nobody within the management chain could legally purchase on open market due to insider knowledge. At least that is what i'm telling myself
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Post by orlon on May 10, 2015 14:45:34 GMT -5
But in this case it was no secret. Edstrom had set up a pre-planned sale using rule 10b5-1. The SEC put this rule in place to address the insider trade activity.
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Post by mnkdorbust on May 10, 2015 16:38:07 GMT -5
I was commenting more on purchasing than selling. While any of them purchasing on the open market would be a good sign i doubt they could if they wanted to due to insider knowledge. While I personally don't think any of them should be selling especially in the territory we are in currently, it's their call and i don't know their particular situations but i'd rather they didn't.
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