Summary
- Sprint insiders make large stock purchases at prices around $5.
- The company hasn't resolved liquidity issues with a likely asset sale required.
- The pricing war and liquidity situation haven't improved
suggesting investors don't follow the insiders in purchasing the stock
at $5.
In the last couple of weeks, it was
disclosed that
Sprint (NYSE:S)
CEO Marcelo Clarue and CFO Joseph Euteneuer purchased shares of the
struggling wireless provider. The amounts were impressive with the CEO
buying five million shares of the company's stock for nearly $25 million
and the CFO buying roughly $100,000 worth of stock. Though multiple
insider purchases of that magnitude are typically a bullish signal, one
major issue needs resolution before investors should blindly follow the
executives into the stock.
Read the
full article at Seeking Alpha.
Disclosure: No positions mentioned. Please review the disclaimer page for more details.
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