Autobytel management covered themselves back some time ago by putting a 5% clause in their by-laws. No one could hold 5% or more of their stock without approval of their BOD as I recall it. Sneaky group, aren't they? That happened when ABTL was the target of a hostile takeover.
I think something big is going on, I just can't figure out what it is. Coats has basically put the company up for sale without going through an M&A company, this big sale of stock today, and last nights dump of 41K shares. If we only knew what was going on, a lot of this stuff would make sense. I'm just not clever enough to figure out what's happening. Maybe I should just go for the obvious and conclude that ABTL's being considered for an acquisition.
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