<<That's not the point. There are two reasons one should be concerned about sales. The first, which is not applicable here, is an increase of supply so significant that it will hurt the stock price. For example, you gotta watch out for these when lock-up expirations for new IPOs happen. The second, which is applicable here, is that the CEO knows when it's a good time to cash in; that's why it was considered "news worthy" and reported several places. >>
200,000 shares filed for sale really doesn't mean anything in this market. OMKT's insiders filed to sell a total of 325,000 shares as recently as 11/19/98, and in fact, I believe Goldman was dumping for them on Friday, and yet the stock went up another 70%.
Smith Barney and another firm downgraded BAMM from underperform to neutral on Wed, and yet the market rewards BAMM with a 200% gain the next trading day.
KTEL is facing Nasdaq delisting and massive lawsuits and yet it managed to effortlessly tag on nearly 50% gain on Friday.
Moreover, a Form 144 filing to sell 200,000 does not mean that Orban is going to sell them right away. Most likely, it simply means that he's waiting for EGGS to hit at least mid 40s to take some profit. Assuming that will happen, I believe he still owns plenty of shares thereafter.
With the Clinton hype on ECommerce coming up on Monday as well as EGGS opening of the new site, I see it surges into the mid 40s easily. In fact, TokyoMex just raised his near-termed target for EGGS to 60 - 80 today.
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