Originally Posted by
VacancyBid
It is nonsense and he didn't say that.
He said that losing the stock _they bought that day_ wouldn't hurt them. The purchases in question
- Rocky Wiggins, SVP and chief information officer, acquired 1,248 shares, spending USD7,188.48;
- Edward M. Christie, president and CEO, acquired 2,252 shares, spending USD12,971.52;
- Matthew Klein, EVP and CCO, acquired 3,277 shares, spending USD18,875.52;
- Scott Haralson, EVP and chief financial officer, acquired 1,011 shares, spending USD5,828.36;
- John A. Bendoraitis, EVP and chief operating officer, acquired 2,821 shares, spending USD13,138.56;
- Kevin Blake Vanier, VP finance and strategy, acquired 1,058 shares, spending USD6,094.08;
- Brian J. McMenamy, VP and chief accounting officer, acquired 131 shares, spending USD745.56; and
- Thomas C. Canfield, SVP general counsel and secretary, acquired 967 shares, spending USD5,569.92.
I got this from an article with the headline "c-levels-at-uss-spirit-airlines-go-on-stock-shopping-spree"
It looks like a token investment ($70K between 8 execs) meant to generate rosy headlines. It doesn't shout confidence in a turnaround / buy the dip.
Offs, nobody, well except dumbass pilots, buys the dip on a company heading towards bankruptcy, especially C level execs! They didnt become multi-millionaires by being stupid. And I suppose you're subscribing to the theory Jblu spent 500 million on a merger they didn't think would happen so they could hurt a competitor that doesn't directly compete with them? You know because that's fiscally responsible. 🙄