Reasonable Explanationfor the selling...
Just before Mike Romaniuk took over as CEO, the company had been stagnating for years. It was run by Kevin Whelan, and he had about 3 or 4 million shares. He is no longer an insider, and I'm think it is he who is adding his paper to the mix. Once we get through his shares, I'm almost certain this selling will be over....I personally think he must have already exhausted his paper by now, and maybe was/is just kicking out the last few shares at any price?
I have no idea why former directors/management do this, but I've seen the same thing with another micro cap I owned. The guy gave away 500,000 shares at between $1.25 and $1.75 and once that director was done, the stock I'm talking about proceeded over the next year to go ten bagger.
I'm comfortable with this position here, a couple of cents either way is not how the real maoney is made (or lost for that matter). Try to stay calm, selling now is only something you'll regret later (in my humble opinion). But everyone must make their own investment decisions, be it smart, or not so smart.
Remember, quite a bit more than half of NCM shares have traded since Jan 1/2010 at prices similar or higher than this price. No one likes to sell at a loss, and besides keep your eyes open, Mike Romaniuk has not stopped working....I'll bet we see more good news coming sooner than later.
Good luck and good decision making to all,
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