Director buying would certainly instil confidence, but if you look back at GCN's announcements you will see that there has unfortunately been no director buying for at least a year.
The only action by a director was to SELL. That is to say, selling 10,000,000 unlisted options to a non-director, who then paid GCN for the shares at a massive premium to the then share price. Was this a show of confidence in GCN? Or was it a last ditch stand to save GCN by providing cash - thereby protecting a much larger holding of shares?
None of us knows what went on, except that it was not a case of director buying - as you suggest. If directors had bought GCN would have been obliged to report this to ASX.
GCN Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
