Ted, I have no problem in general with insiders selling. What bothered me was the timing of low grades' appearance on the SI thread. His post was one of those "the stock will go up from here because I know something you don't know, so trust me" type posts. Then the stock tanks, he's nowhere to be found on SI, and we later learn there was insider selling during the exact time he was promoting it. Now the stock is back up in the 20s and he's all over SI hyping it again so I thought perhaps a pattern were developing. Considering SI has it's fair share of PR folks being paid to pump up stocks so others may dump, perhaps I was being a bit paranoid here, although I like to think the operative word was prudent.
Low grades did point out that he'd been posting all along on the Yahoo MODA thread so that certainly does support his claim that he's just a "regular guy"; that he's really just quite enthusiastic as opposed to, ummm, manipulative. So, yes, I do give him the benefit of the doubt. Of course I'm always leery of people who get all their information directly from "the company", but, again, I have confidence if MODA doesn't get their web site up my Monday as promised that low grades will let us know exactly what the problem is. (g)
Frankly I'm a bit perplexed about all these message boards. I really don't like the thought I have to read AOL, Yahoo, Raging Bull, etc. in addition to SI in order to frame someone's comments made only on SI. After all, SI is the only place many people read, and there's no guarantee that SI members who post on other boards always use the same name. But obviously to ignore material on those boards when alerted to it on SI would be imprudent.
- Jeff |
