Director Chacon Quiros disposed of 105,000 shares (~$7.9M) as stock trades near recent highs despite unprofitable financials.
Director Juan Jose Chacon Quiros sold over 105,000 shares in two tranches totaling approximately $7.9 million, representing a meaningful reduction in his holdings. The timing is notable: the stock is trading near its recent highs despite the company remaining unprofitable with significant net losses. His prior five sales at this stock have all been poorly timed — the stock rose after each previous exit, suggesting he has consistently sold into rallies rather than pullbacks. This latest sale follows a recent pattern: he also sold shares just nine calendar days earlier, indicating a consistent disposition trajectory. The company's underlying fundamentals remain challenged — it is not yet profitable and carries substantial operating losses — which provides context for why an insider with a poor track record of exit timing might be reducing exposure at elevated prices rather than waiting for a stronger financial position to justify holding.