ECN Capital Corp T.ECN

Hudson Buying More Shares on the Open Market

[snootchybootchy]

Steven Hudson reported buying 250,000 more shares yesterday. For those counting, that's 950,000 shares he has purchased on the open market for a total of $2.24M in a timespan of just three months. He clearly believes he will be selling his stake at much higher prices.  Remember that he just signed a one-year extension to remain CEO until December 31, 2024.  Agreeing to a one-year extension tells me he is looking to sell out fairly soon. Maybe he will need to sign another one-year extension but extending one year at a time is an indication he is looking to wrap things up fairly soon.

[snootchybootchy]

Hudson reported purchasing another 250,000 shares today. That's now 1,200,000 shares he has purchased on the open market for a total of $2.76M in three months. Very bullish sign.

[snootchybootchy]

Wow.  Hudson reported again another 250,000 shares purchased on the open market today. That's 750,000 shares in 3 days for a total of $1.57M! Over the past three months, that's 1,450,000 shares for a total of $3.28M.

[Blueswin]

That is a lot of money! It looks like Hudson has just under 13 million shares now. Today big volume - just under 3 million shares. I wonder if ECN is finally buying some shares back to be cancelled? One purchase today was for just under 1 million shares. 

[snootchybootchy]

Or maybe Hudson's big insider purchases have caught the attention of an insitutional investor who now wants in.

[Cheeky20]

with ECN's market cap way below $1B a lot of institutions cannot buy.  Unless it's a small cap fund or an outfit like Vosscap.  I mean if daily volume is 1,000,000 shares at the current share price it's only just over $2M a day.  Not very significant compared to market cap.   But it's good to see the SP come off the lows after earnings on some higher