Sent to a friend...
I have a theory, ok, that there's this guy, ok, and he's selling off all his original shares. So since April, he's been dumping, ok, regularly, heavily. 10% of the daily volume on average. Up to 25% on heavy volume, post PR days. Seems every time the stock moves, it's crashes just as bad w/in a few days. Really pisses me off, but only since I've been in the past 2 weeks.
I killed my own theory, because after checking w/CDA Investnet, the Bob Gabele arm that provides free insider trades to the Yahoo quote board, that they update insider trades daily. This guy hasn't sold since 28 May. So recent volatility attributable to him don't make sense.
Anyways, I'm sittin' on the can the other day, and sure enough, forgot a good magazine. So, w/o anything to read my mind drifts to my latest obsession, CNKT. So I says to myself, "Self, why would this Stark guy just all of a sudden stop sellin'?" And then Self says, "well maybe he just stopped reporting....because he has less than 5% and doesn't need to....DING, DING, DING, DING, DING!!!
So recent TT OT's w/GB on the 5% insider thing was research into this. From what I can tell, the guy, Brian Stark fell under the reporting requirement even before he stopped reporting. I've been trying to get ahold of the CFO, clearing agent, & accountant for CNKT to get the best share count, but even worst case says he's off the radar. That means he sold into this week's pop, and by my figgerin', has less than 200K shares, and my original thoughts about him not being able to cap the price still hold. He should be outta the picture by end of July.
Charts are still pretty optimistic despite his efforts. Repeated attempts to contact someone @ Stark investments have gone unanswered.
Most frustrting thing about this thing is no one wants to pick up the ball w/me and play. To me it seems to be a critical factor in the price action the last 3 months. Guess I'll find out in August.
CNKT has some pretty strong E-Commerce software out there, with a decent client list; commercial arm of Home Depot, ATT, SnapOn, etc. No real price targets, just expect significantly lessened volatility in the coming weeks and some steady appreciation. |
