Downward Volume Action in STEC Inc. (STEC)

Posted in pre-market 
August 4th, 2009

STEC, Inc. (NASDAQ: STEC) is one to watch this morning.  It traded down almost 10% last night in after-hours trading on some 780,000 shares.  This has traded only 23,000 shares as of 8:19 AM EST but shares are still down over 9% at $32.25.  This trades right at 2,2 million shares per day, so between last might and this morning we have seen close to 40% of a whole day’s trading volume.  The company beat earnings estimates but executives are selling a portion of their holdings in a secondary offering of common stock.  Its CEO and COO are selling 7.5 million shares of stock, and no sales are being made by the company. -JON OGG

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