this post was submitted on 14 Sep 2023
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The CEO did sell a bunch of shares before this was announced, I hear.
That's clickbait journalism.
He sold 2000 shares for $40/share, which he then immediately bought back for $1.42/share.
https://finance.yahoo.com/screener/insider/RICCITIELLO%20JOHN%20S
Which means he sold at the top, then bought more at the bottom so he can ride the train back up to do the same thing again.
This isn't a good thing.
Pretty much the dream insider trading plan. But $80k doesn’t deem like much for a CEO
It's definitely not. It's probably just a free $80k his contract allowed him to get.