In the Up Yours Catagory Enigma why are your buddies dumping their shares in a one day trade if Barrick isn't the next financial fiasco ala Enron et all?
Barrick insiders sell
Bullion is up and gold stocks with it.
Barrick Gold shares touched as high as $30.20 (Canadian) yesterday, to the delight of shareholders no doubt. One wonders how happy company CFO Jamie Sokalsky and director Brian Mulroney feel about that.
As revealed on Wednesday, both insiders exercised options to buy stock in February. Mr. Mulroney bought 237,500 shares, Mr. Sokalsky 37,500. Both sold the stock immediately. Mr. Mulroney was left holding 1,000. Mr. Sokalsy, it turns out, directly owns no stock in the company.
Both insiders may well have good reasons to dump their shares.
But if not, given Barrick is the most successful gold mining concern in the world, what do these trades say about the stock's prospects, even as investors clamour for it? |
