CFO sells shares...and no one knows?https://equity.guru/2021/01/24/predictmedix-pmed-c-cfo-secretly-sold-shares-clickbait/ "If you just stumbled into this article and weren’t looking for a specific answer, here’s the situation.
- Rakesh Malhotra is the CFO of PMED, and has shares.
- Between May 26, 2020 and July 3, 2020, he sold approximately $140,000 worth of PMED shares, at a price that’s at minimum double the current share price – all unbeknownst to management and the board of directors of PMED.
- The filing to report this sale of stock came eight months later than the time frame required by law (usually 5 calendar days from the transaction/becoming an insider)."
My first concern is that he sold his shares period. Why would he do that if he thought that PMED was on a path of success?
My second concern is that no one....including the board....were aware of his selling because he did not make them aware. That is bush leage. And is scary.
If Equity Guru seems a bit less concerned....one has to understand that PMED pays Equity Guru for writing articles, doing interviews, and whatever other marketing functions that Equity Guru does for PMED. Since PMED is a client I guess they would be more inclined to put this in a somewhat better light.
Above is all just my opinion. But I absolutely don't like seeing this kind of thing going on. Not good.
Badog