True, we are still not even close to the penny, but PalmSource stock (symbol:
PSRC) made a dangerous dive last Wednesday undercutting for the first time the $8 mark (see screenshot).
A few weeks ago, former PalmSource CEO David Nagel announced that he was planning to throw 116,388 PSRC shares on the market. Perhaps this is not a big deal as the sale would only amount to a total value of less than USD 1m at current stock price. On the other hand, it might not be a comforting signal to investors if the former CEO of a company is so hasty in selling his stocks. Surely he cannot be that much in need of cash considering that he has made roughly USD 10m in the past 3-1/2 years through sign-on bonuses, salaries, other bonuses, severances and stock sale proceeds.