Joe,
There are NOT going to be 60 million new shares loose this week. First, many company executives and inside holders are in the quiet period, and can't sell it even if "unlocked" tomorrow. They have to wait for the Q2 quiet period to end, which is typically 36 hours after the earnings announcement.
Second, as others have indicated, while not cheap or inexpensive, NITE is still expected to have a teriffic Q2 earnings event, and then it becomes Management's challenge to show us that it will continue. Massive insider selling would raise a few eyebrows, and would put their credibility on notice. I believe that management will execute a reasonable plan to take some gains as well as not appear to be "cashing out". IOW, it can done effectively as to not roil the markets.
Traders will have their way with this stock, so...... if that's the kind of stock this is, then prepare yourself for trading it. Set tight stops and know that it can go down as fast as up.
If you're a LT investor, I wouldn't watch it gyrate, it will only make you ill.
Steve |
