RE:Insiders selling by the boatload
I Wonder how much you may have at stake, shorting ARG. You are generating FUD (fear, undermine, doubt) to make a profit, but now it is saturday, the stock market is closed, you can't cover your trades, and it's my turn to give you a little scare. You're right, an insider, Ross J Beaty, has sold 3000000 shares. According to this link https://www.4-traders.com/business-leaders/Ross-Beaty-05HM5K-E/biography/ he owns 15% of the company, over 27 mil shares, so now he would still have over 24 mil shares. He also owns a lot of stuff, look it up, he is filthy rich. That is a danger with a company that is held by deep pockets, when one needs a little pocket change, it can move the markets a lot, 3 mil additional shares in the market float had its effect. All these big positions have to be sold some day, and it can be achieved in the followaing ways: 1 - a share buyback at market price (here the NISB is not in ARG's short term plans) 2 - a block trade from a deep Pocket to an institution (few mutual funds invest in commodity producers, ARG is not ripe) 3 - a block trade from a deep Pocket to another deep Pocket (well we know Luzich partners is buying, why don't we do that) 4 - Simply, slowly sell at market price (now that there is a real positive swing for the company, it may be a good time to unload a bit...) FICTION at the bar, Toor, Beaty, Dean Beaty: Guys I need a little pocket change. Toor: No problem I'll buy your shares (option 3). But wait, there becoming really expensive, really fast, why don't you simply dump them (option 4), so I can buy them back next week at a discount, I'll be the hero again and make zillions. Beaty: OK, will do. Dean: Hey guys, let me unload my shares too, just before you do, I got payments to make... That is pure fiction, of course, but again, don't short good companies, or if you do, cover quickly. Have I got you a little scared ?