Originally Posted by
EATME
Allegiant Travel Company SVP Sells $440,269 in Stock (ALGT) - Mideast Time
"The company also recently declared a special dividend, which is scheduled for Tuesday, January 6th. Stockholders of record on Friday, December 19th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Wednesday, December 17th."
umm... why sell shares now before the dividend? Is there something looming?
It's not uncommon for share prices to rise as they get closer to the ex-dividend date as more people buy in to get in on the dividend thereby raising the price of the stock. After the ex-dividend date, the stock will probably drop a little.