Slight error in San Jose Insider Trading report:
Ron:
The high on May 12, with 262,000 shares traded, was 8 3/4, so I don't know how Westrick sold some shares that day at 8.81. The high on May 13, with 293,100 traded, was 9 1/4. Maybe Westrick sold some stock after hours late on 5/12 California time and early on 5/13 eastern time. Would be interesting to see total holdings of the selling insiders. Well, at least the CEO and most of officers stayed aboard. I'd like to know what they've got planned to get the engines running again.
Definitely not a fun time to be a CRNR shareholder. The market is testing book value (gee, there must be some goodwill in there somewhere) Will be interesting to see if CRNR earnings come in right at break-even or a penny or two above or below.
As Yogi Berra once said, this is like deja vu all over again. I bought beaucoup CRNR at 7 1/8 last summer, watched it fall to 5 in August, averaged down some at 5 1/2 then, saw this baby hit 11 last fall (at which time one analyst, can't remember his name, targeted 15 for 1997) and have watched it ride up and down between the 7's and 9's for months. Looks like I should have traded the one stock I decided to hold long as an investment. Going to stay long until year-end and then decide whether to take a tax loss. (Fortunately I loaded up on ITII at 12 last November the day after it crashed.) |
