An article about "Lots of Selling at Infospace" July 27,2000...
theinternetanalyst.com
July 27, 2000
Lots of Selling at InfoSpace
By Craig Columbus
President, insiderSCORES.com
INFOSPACE (INSP), an online content supplier, caught our eye this week. From June 2 to 27, four insiders sold 1.54 million shares at $50.97 to $59.85 a share. The largest sale was made by the company's founder and chairman, Naveen Jain, who unloaded 1.28 million shares. Also selling were: Rufus W. Lumry III, a director, 150,000 shares; Ellen B. Alben, senior vice president and corporate secretary, 76,500 shares; and Gary C. List, also a director, 34,500 shares.
The activity is noteworthy for the total volume of the shares sold, and because it was Mr. Jain's largest sale of INFOSPACE shares this year. In addition, the sales were made at a time when the stock was down about 60% from its record high of $138.50 reached on March 3, 2000. Since the sales, the stock has continued to fall, closing on July 24 at $45.06.
— Eric Lopkin |
