Reeder disposes of 22k shares, Edelman disposes of 5.5k shares. Every insider is selling of their vested shares so much for the confidence in the company they run. Bunch of thugs. https://www.theglobeandmail.com/investing/markets/stocks/GFS-Q/insiders/
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meta - several posts were deleted/moderated from this thread, but one of the deleted ones was restored? wtf
So selling the same week you make announcement to lay off people isn't illegal? Guess we'll see if sec thinks so 🤪
IMO the people that are cashing in have won. I'm definitely envious. I wish I had the wherewithal to be similarly positioned.
You all should redirect your anger and criticisms to the system that allows things like this instead of these people who are just participating in it. Welcome to late stage capitalism.
Wow look at all these down votes!! Looks like GF senior leadership team at last found something to keep them busy! Truth hurts doesn’t it?! Haha
Imagine these id--ts on shark tank. That would be exciting. By the way what happened to the internal shark tank thing and flying them to watch 49er’s
It is perfectly legal for these execs to sell stocks as long as it is not in the black-out period. There is a window defined where execs can and can't sell shares, this is clearly documented, so many days before earnings reports release, they can't sell. Someone at CTO level would probably have an even more strict black-out period than the average GF exec. What it does imply is these execs don't have confidence in GF stock hitting $100/share as Mubadala would like to see otherwise they would hang on to them. GF earnings for 2022 and 4Q 2022 should be good but 2023 will be a rough road financially for them and let's see how many volunteer separation programs they offer and then potentially further non-voluntary separation programs they offer in 2023. Whatever they need to do to meet what they promised for gross margins they will do, including further layoffs. The long-term future of GF under the current leadership team does not look good, the development roadmap has really been stripped of most innovative technologies/features and they continue to fall further behind UMC in revenue each year. Best thing for GF is for Intel or Samsung to buy them, TSMC would not be interested since TSMC has everything and more GF does. If you own GF shares, consider selling them now while stock is in mid 50s range or if it gets to 60 by earnings call in mid Feb because after Feb it will be a rough road for GF stock in 2023.
- 2 will break ground 2024. T.C selling a week before making the resource action announcement at 1$ to the stocks high should be criminal. Technically it is, but no one is going to do a thing about it, look at the current millionaires sitting in congress. George Carlin said it best- "Its a big club and you ain't in it."
There is nothing illegal here. All it says is "Insider selling is considered bearish; those in the know may be offloading their stock in an expectation that prices will soon fall." ... https://www.investopedia.com/articles/investing/040915/buy-stock-insiders-how-track-insider-buying.asp
Yup took US tax payers dollars and shoved it in their pockets and Abu Dhabi coffers
If mainstream US heard and understood I am guessing that outrage would be end of GF
Global-Flounderies
I’m guessing since they’re dumping stock the fab expansion 8.2 is dead in the water. Gotta love the government handouts and the false promises TEAM.
So with the horrible economy, would you personally hold on to your stock, or dump it before it drops further? Would you take a huge loss to keep the naysayers happy, or cash out to play it safe?
It’s not illegal but very telling on the health of the company. The stock is only slightly one year old and they are dumping it = bad sign.
So what are "they" doing that's illegal?
Wow! Thanks for sharing. When CFO sells, the finances must be in a mess. Shouldn’t SEC be looking into the murky affairs of these gangsters running GF?