Anyone?
In fact, Oppenheimer unloaded their entire position of 350,000 shares at $17.08 per share.
Am I reading the data incorrectly?
According to the Insider Trader link, I see Oppenheimer funds still holds 210,500 shares as of 4/9/00. This is confirmed by the Yahoo link under Institutional holders that I provided as well.
You are correct though huey, Beatrice did flip those options on 2/8/00, but I really can't blame her; She's been here for the last 8 years. According to the Definitive Proxy Statement DEF 14A filed 3/20/2000 she still holds a sizeable position... 3.1% @ 1,061,500 shares to be exact.
also, this excerpt found under the heading "Share Ownership By Principal Stockholders and Management" from the same filing should help to clarify the situation:
Includes 676,500 shares held by Justin C. Walker and Beatrice Yormark,
Trustees of the Walker-Yormark Family Trust Dated October 2, 1992.
Includes options to purchase 385,000 shares of common stock exercisable
within 60 days of February 29, 2000, of which 168,331 shares are vested
at February 29, 2000.
Another view could be taken that the moral of the story is to get involved with a visionary company and see it through, then cash in on part of your investment, and continue to hold shares for more appreciation on what seems to be a bright future.
Maybe the retail investors from SI are just a little late to the show, having missed the Introduction and Acts 1 and 2, it's nice to know we've bought our tickets and have our seats for Acts 3 and 4... and maybe a Grand Finale'.
Somehow I don't see this show as a flop.
Thanks for the thought provoking posts,
Regards,
John M. |
