Schilling sold about 1% of Rightside’s outstanding shares yesterday.
Frank Schilling might have sparked yesterday’s very active day of trading in shares of Rightside (NASDAQ:NAME), or at least contributed to it.
Over 860,000 shares traded hands yesterday compared to a three-month average daily volume of about 75,000 shares. This pushed shares down about 13% to $9.50.
Schilling confirmed to Domain Name Wire that he sold shares yesterday to take some profits as well as push his ownership below the 5% ownership reporting threshold. His average purchase price was $7.40, so he sold the shares at a profit.
According to an SEC filing from December, a Schilling-owned firm owned 1,158,174 Shares, constituting approximately 6.1% of the Shares outstanding. He sold just over 1% of the company’s outstanding shares yesterday. That would be about 200,000 shares.
[Update: According to an SEC filing today, Schilling sold 199,971 shares Monday at an average price of $9.74.]
Still, this is just a fraction of the total shares that traded. It certainly pushed a lot of activity.
It’s also impressive that people bought over 860,000 shares in the company yesterday. There was strong resistance in the $9 range.
Two other large shareholders, Daniel Negari and Mike Ambrose, sold about 173,000 shares earlier this month at an average price just below $12.00. They made a profit of their sales.
Shares in Rigthside traded up $.25 today to close at $9.75.
What’s odd is that he sold his shares via a market order in a thinly traded stock which is generally not the best idea when moving a large number of shares. Although if he needed to get below 5% by the end of the month, then perhaps his sale price wasn’t main goal.
…timmmmbbeeeeerrr. Stay tuned.
Badly executed by the broker if he used one. There are firms who are specialized on block trades in thin markets.
“It’s also impressive that people bought over 860,000 shares in the company yesterday. There was strong resistance in the $9 range.”
Not impressive when the price get dumped 13%. There is always going to be buyer at some price level.
Ha, it was a case of follow the leader. People thought something must be up when someone dumps a huge block via a market order so you have panic selling. The wise guys see what happened and are buying the shares at an artificial discount.
Would love to know if this was just a horrible sell order, or if he sold purposely via a market order and had a buddy buy his shares and everyone else’s at the discount he created.
Hello Anticareer,
This is the most preposterous comment anyone will experience. What are your credentials and who are you working for? Anyone taking your Bait will be sorry. JAS 8/31/16
Gratefully, Jeff Schneider (Contact Group) (Metal Tiger) (Former Rockefeller IBEC Marketing Analyst/Strategist) (Licensed CBOE Commodity Hedge Strategist) (Domain Master ) https://www.UseBiz.com
Now that the pool of Domain speculators money is Massive, now all of a sudden the sharks smell blood, and our Industry is rife with Carpetbagging interlopers. This is no surprise, seeing that the King of Pump and Dump Frank Schilling is actively Gaming the SEO followers Blogs.
Bottom Line : If you are not helping Investors and End-User Wannabes by pumping them to buy New TLDs instead of Proven .COM Profit Centers, You are a Phony Knockoff pusher, and you deserve the crushing failure ahead for those in this Phony Knockoff Class. JAS 8/28/16
Gratefully, Jeff Schneider (Contact Group) (Metal Tiger) (Former Rockefeller IBEC Marketing Analyst/Strategist) (Licensed CBOE Commodity Hedge Strategist) (Domain Master ) https://www.UseBiz.com
Hello Andrew,
We have been warning investors of the Levee Breaking, this is just the beginning.
Gratefully, Jeff Schneider (Contact Group) (Metal Tiger) (Former Rockefeller IBEC Marketing Analyst/Strategist) (Licensed CBOE Commodity Hedge Strategist) (Domain Master ) https://www.UseBiz.com
Hello Andrew,
Fundamental Economic Underpinnings, point to both Donuts and Rightside eventually being penny stocks. JAS 9/2/16
Gratefully, Jeff Schneider (Contact Group) (Metal Tiger) (Former Rockefeller IBEC Marketing Analyst/Strategist) (Licensed CBOE Commodity Hedge Strategist) (Domain Master ) https://www.UseBiz.com
Frank bought large quantities of rum cakes today. Stock markets took a dive. News at 11:30.