Touchdown
I haven't done any Monday morning quarterbacking for at least a couple of weeks, which is remiss of me.
Following on from the themes of Vocus and Sirtex, this time Vita Group (ASX: VTG) has crashed by another 30.5 per cent following yesterday's update on trading conditions.
Shareholders have now experienced almost a 72 per cent drawdown from the 52-week high.
Some shareholders had expressed concerns that the CEO's selldown might presage a falling share price.
In March last year the CEO finally cashed in 15 million shares of her stake for a hard-earned $42 million payday (while still retaining a very substantial 39 million shares, it should be said) - and then in August another 4 million shares were disposed.
Source: ASX
A remarkable success story, the CEO had founded the group almost two decades earlier with just one solitary store.
A 70-plus per cent drawdown following key management personnel selling of shares echoes the Vocus story quite closely.
