Post by
RetailRube on Apr 20, 2015 9:54pm
Cashing-Up
No, not me. I have not sold any shares for years. But recently Blartar announced he sold 200,000 shares at 38-37 cents. He said if Gubitz could do it, then he could too. Blartar was cashing-up for some flexibility for when the price goes lower. I guess he's going to trade in and out of the stock now. He finished by complaining about the manipulation of the stock price.
I should be appreciative of Blartar's candor. But after I read it, I was just angry and frustrated. He killed another rally. Gubitz sold at 37 cents and killed a rally. The next time it got just over 40 cents, BailMeOut sold and killed a rally. Zep is gone and it sounds like Peasoupfog with his 500,000 shares is also now gone. The market had to absorb both of those blocks. DamnYankee has admitted to several round trips in the last few months. Then Blartar dumps 200,000 shares near 40 cents and kills the latest rally.
Who is manipulating the stock? It's us with our in-and-out trading. I am amazed that people invest for 5-10 years, then sell when they have finally broken-even. What a great investment strategy: "I invest to break-even."
I don't think Mr. Gubitz got away with anything. He paid a heavy price. Shareholders voted him off the Board of Directors. It cost him his $35,000 annual director's salary to realize a one-time gain of about that size. He also now has an awkward bullet on his resume. Complaints about insiders should be directed to the OSC so the people involved can enjoy due process. Otherwise, please stop dumping on Mr. Gubitz. It's unprofessional.