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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Merg who wrote (9235)3/13/1999 2:33:00 PM
From: Larry Brubaker  Read Replies (1) of 27311
 
Merg, we don't know whether former executives "fled" or were "ousted."

Many of the former executives have, in fact, added to their holdings of VLNC stock by exercising options. Some have sold stock but have acquired more stock through options exercises than the amount of stock they sold. That information is available through many sources including insidertrader.com

While I am skeptical that VLNC is now "ready to go" as many of the bulls think, I would think long and hard before I shorted the stock. There has been substantial purchases of stock by insiders and ex-insiders, and this is hard to discount.

The most negative argument that can be reasonably made about these insider purchases is that they represent a small proportion of the holder's net wealth, and that the insiders know they have to give the small investors some amount of hope in order to keep the price high enough to sell more shares.

This hypothetical argument would not be enough for me to acquire any sort of substantial short position.

If I were considering a position, short or long, I would wait until the terms of the next financing are announced. If the bulls are right and sales of product are near, VLNC should be able to convince somebody to buy shares at a fixed, rather than a variable price.
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