Well my 2nd position in $GLUU continued to drop today and has continued to make me cringe at the fact that I broke another rule (releasing my 8% trailing stop) The position now sits with a nasty -30.48% loss totaling $74.93 in unrealized losses.
Several traders on StockTwits that are pro GLUU and sitting on long positions too have pointed out that this ticker's history shows large drops post ER and then nice climbs to higher levels a while later. This and the positives within the company itself has reinforced my belief in holding long. Such as profits, products, the recent acquisition of a profitable company, etc.
But with all that said, I was sent an email announcing that the company's VP had just sold 37,596 shares... I'm now wondering what this says and how it will effect the ticker in the next few days.
I'm guessing that it could be profit taking on the VP's part, but it seems odd to do so now, why not back in the 7s?
Could it mean that the VP is getting ready to leave the company? Not sure.