Asensus Surgical Inc (ASXC)

[pontiacg6]

So the CEO's reaction to the FDA approval was quite a shock...

*Chief Executive Yells "Sell!'

Five days after announcing the much-anticipated FDA approval, the president/CEO Todd Pope dumped a whopping 600,000 shares of the company stock. So the man who best understands the pluses and minuses of the TransEnterix robot is unloading stock at a time when the product has just attained the marketing approval that's supposed to turn the company around? If the CEO's selling now, we're selling.



(Source: Company SEC filings, TheStreetSweeper)

He's not the only recent inside seller. The chief financial officer, Joseph Slattery, reports he just dumped 23,391 shares in order to pay for 150,000 shares through his cashless warrant exercise. Mr. Slattery's warrants are part of a raft of cheap, expiring warrants that ultimately threaten to dilute current shareholders, as explained below under "More Dilution Looms."