This past Friday the SOL Global Investments Corp (OTCMKTS:SOLCF) stock was one of the notable laggards in the market as it ended the day with a decline of 5.50%. However, in this context, it should be noted that on Friday, the Chief Executive Officer of the company Andrew DeFrancesco made a key announcement.
He announced that as of August 18, he had managed to acquire as many as 330,700 common shares in the company through the Canadian Securities Exchange. The CEO of the company paid an average of C$3.5926 for the shares that he bought.
However, it seems that the news about this transaction did not quite impress investors and the stock ended up recording a decline. Considering the decline made by the stock this past Friday, it is likely that the stock is going to be watched closely by investors in order to see if there is any kind of recovery.
That being said, it is perhaps also necessary to note that DeFrancesco also bagged 300,000 more common shares in SOL Global from an arm’s length vendor and that was actually a private transaction. In that transaction, he paid C$3.30 for each share in the company. It remains to be seen if the stock can recover today.
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