Quote:
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.
Again, if you think the c-suite can just buy stock the day or even week of bad press you are sadly mistaken, if they were bought, this trade was done well before the merger was terminated. If you are even a spirit employee you'll know TC has address this in the past, and you'll know most of them are compensated with stock, so we have no idea under what circumstances these shares were acquired. Not only that, If you do further research you'll see TC alone owns over 200,000 shares of spirit stock. Even to a millionare, a stock that was once worth 50+,going to 0 at 200,000 a pop is gonna hurt.
I'm not delusional, I understand the situation we are in, but at the same time a lot of the doom and gloom/conspiracy theories spread in the last few month are absolute non sense.
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