There was an interesting article in the Australian Financial Review.
The article is titled "At Wisetech, EML and BWX, director sales presage ASX routs."
The article states "Funny that just days before Christmas, and about a fortnight before the first half concluded, CEO Richard White sold 5.8 million" What I find interesting is that the share price rose quite a bit after Mr White sold his shares.
Mr White had said many times in the past that most of his investments were tied up in WTC, so diversifying a bit is just common sense. As far as the timing ? Most investor's will sell when they feel the price is at it's highest - interestingly WTC stock continued quite a bit higher after Mr White's sale.
To me this means two things.
1. Mr White thought the stock was already well priced when he sold.
2. He had no idea that the price would go up so much soon after he sold.
For someone with his inside knowledge to sell so far from the High Price of the stock tells me that he had no idea it could go so high.Obviously now the stock has dropped dramatically below the price at which Mr White sold which is the story behind the article.
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