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Posted On: 05/25/2018 12:42:26 PM
Post# of 22463
Nanoco got 1.8 million construction milestone payment in May, which boosted the stock so the CEO and a couple of institutions took "profits" by selling shares. a Quote from the Financial Times:
More recently, the share price has been reinvigorated by optimism about a steep rise in revenues in the second half of the 2018 financial year. With the shares up 78 per cent since the start of the year, even the group’s chief executive, Michael Edelman, hasn’t been able to resist a little profit-taking.
He isn’t alone: institutional holders Swedbank and Lombard Odier sold 2.3m and 4.5m shares each on 10 May. Mr Edelman sold 1.7m shares at an average of 44.5p between 9 and 14 May, netting himself close to £756,000. He retains a 1 per cent stake in the company.
Why sell now if they are doing well? Does not seem to be a vote of confidence in the stock.
More recently, the share price has been reinvigorated by optimism about a steep rise in revenues in the second half of the 2018 financial year. With the shares up 78 per cent since the start of the year, even the group’s chief executive, Michael Edelman, hasn’t been able to resist a little profit-taking.
He isn’t alone: institutional holders Swedbank and Lombard Odier sold 2.3m and 4.5m shares each on 10 May. Mr Edelman sold 1.7m shares at an average of 44.5p between 9 and 14 May, netting himself close to £756,000. He retains a 1 per cent stake in the company.
Why sell now if they are doing well? Does not seem to be a vote of confidence in the stock.
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