Antonio Sanchez's open market purchases of almost 500,000 shares over the past few months paying more than $39.00 for stock in recent weeks for a total of $6,400,000
Joe, did you figure his average purchase price? To be exact, between 2/4 to 4/13, he purchased 424,564 shares for a total of $6,264,025. That works out to $14 3/4 per share.
Note that most of the shares were bought before the company started on its new internet venture. Basically, Sanchez bought into a concept, not a proven product. At least he only paid $14 3/4 on the average, speculative, but safer than those who buy recently.
At CompUSA, dozens of insiders bought tons of stocks in the teens last year, and stock went on to decline 50%.
Regards,
Tom |
