Another nail in the coffin of a financing Difficult to do a financing when the CEO has just completed draining his trust of about ~ 12 million shares and has now signaled his intention of selling his personal stock.
This is a bigger storm cloud over the stock than the one just passed.
Several here were anticipating a relief rally when the trust finally finished selling.
Pascali has shown his hand now that he had no alternative. It was a bold step.
At its height, I believe the trust had about 12 million shares.
He has 66 million personally.
A Much bigger storm cloud indeed.
Hard to see this moving higher under these circumstances now.