Re: Insider Trades (a more complete story JP)
You posted two insider buys since last October, as follows:
SYQUEST TECH SYQT $980,250 175,000 D 10/13 - 10/10/97 $5.60
SYQUEST TECH SYQT $37,050 10,000 D 12/09 - 11/17/97 $3.71
Insiders aren't always right but it's a powerful indicator that should not be ignored. It's especially effective when there are multiple officers buying and the total share purchases are valued in the multiple 100's of 1,000's of $$$.
I would agree with you but I must point out that all 175,000 shares (which were bought by Director Stanley Pace in October) were quickly sold in early December. That only leaves the 10,000 shares (which were bought by Director Joseph Baia) to get excited about.
A few months earlier during a brief period in late August there were insider purchases by 7 members of SyQuest's top management team totaling about 40K shares when combined. IMO, this token group of purchases was clearly an orchestrated event in order to avoid any continued shareholder criticism regarding executives holding virtually zero shares.
The fact is that SyQuest's top management has purchased and currently holds a minute amount of SYQT stock. Jeez, on any given day, I probably own more shares than the EdHeads combined.
Regards - Dale
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