CEO Dumping Hornby Bay Shares
Look at this Insider Selling action going on at Hornby Bay:
| Bell, George Percy | 10 - Disposition in the public market | Common Shares | -1,000,000 | $0.600 |
| Bell, George Percy | 11 - Acquisition carried out privately | Common Shares | 1,706,167 | $0.270 |
| Bell, George Percy | 54 - Exercise of warrants | Warrants | -1,706,167 | $0.270 |
| Bell, George Percy | 54 - Exercise of warrants | Common Shares | 163,794 | $0.270 |
| Bell, George Percy | 54 - Exercise of warrants | Warrants | -163,794 | $0.270 |
| Barnes, Ron | 51 - Exercise of options | Common Shares | 200,000 | $0.100 |
| Barnes, Ron | 51 - Exercise of options | Options | -200,000 | |
| Barnes, Ron | 54 - Exercise of warrants | Common Shares | 20,000 | $0.270 |
| Barnes, Ron | 54 - Exercise of warrants | Common Shares | 200,000 | $0.270 |
| Barnes, Ron | 54 - Exercise of warrants | Common Shares | 656,378 | $0.270 |
George Bell, CEO of Hornby Bay excercied all his warrants on March 31 and then flipped them for a cool 122% gain. He paid $0.27 and then sold 1 million in the open market at $0.60.
He made $330 000 in one day off this flip.
If I were a shareholder, which I happily am not and warned you not to be either, I would be very mad. By doing this, Bell does 2 things:
1. Makes the stock price go down because he is selling 1 million new shares on the market.
2. Show he is not confident enough in the company to keep all his shares waiting for even higher prices.
And Barnes is selling a lot too so this does not look good for Hornby Bay.
I would rather short this stock than buy it right now but remember to never short stocks in a bull market! It is nearly impossible to make money. (Just like owning stocks in a bear market).