Obviously the more he buys, the more of a vote of confidence. That said, he has bought a lot more before at higher prices and then SP dropped after reports anyway. So his buying isn't exactly indicative of, at least in the short term, future SP performance. On the other hand, with SP at these historical lows, and buying window open for the CEO, it would certainly look bad if he doesn't buy....
Really, the best thing for him, is to focus on employee costcutting and show us the numbers. Holders wants to see synergy in either significant profit upgrade or significant cost reduction from all these supposedly low PE acquisitions that he made. SP will take care of itself after that. One hopes.
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