Nothing shows a CEO’s commitment to a bright and glorious future like buying stock on themselves. That’s what PacSun’s Chairman/CEO Sally Frame Kasaks just did, according to a story on StreetInsider.com:
After the close, Chairman/CEO Sally Frame Kasaks disclosed a purchase of 200,000 shares on 11/24 at prices from $1.10-$1.14, bringing her stake to 390,000 shares. In addition, Director Grace Nichols bought 10,000 shares on 11/24 at $1.13, encompassing her entire stake.
If we were interested in owning stock in the retail sector, this might be an interesting cue, or just a last ditch effort by a CEO attempting to boost her company’s stock price. On Wall Street you never know.
[Link: StreetInsider]
