Hmmm.....well Lord Young is now £80K down (18%) and Alberga is around £14K down (27%) on their October share purchases. Not exactly great timing from two people who have far greater insight into the company than any external shareholder. I've always been a little sceptical of Directors buys being viewed as a catalyst for other shareholders to buy, although some times it can pay off.
Earlier this year the new NXD Chairman and Deputy Chairman of Homebuy invested £250K between them in shares at 231p and a few weeks later the company went into administration (followed by receivership). If anyone should have known what was going on then they should have but, as events proved, they didn't.
This will stay on my watchlist until there are clearer indications that their trading performance is improving and that TA suggests the shares are ready to move up. At the moment they are still well below their 50MA.
Spectrum stock quotes
Spectrum stock charts
Follow this thread
