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Fusion Telecom -5.6% after word of insider sale

Published 09/01/2017, 09:25 AM
© Reuters.  Fusion Telecom -5.6% after word of insider sale
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  • Fusion Telecommunications (NASDAQ:FSNN) is off 5.6% premarket, setting up for a second straight day of declines, following a share sale by its top holder.
  • An SEC filing shows Unterberg Capital, the company's top shareholder, let go of 745,000 shares on Aug. 28, in two sales: 425,000 shares sold at $2.1359, and 320,000 shares sold at $2.1044.
  • Unterberg has 3,122,948 shares remaining after the sales, which amounts to a stake of about 13.68%.
  • Shares had made a strong move up on Aug. 28 after news of a cloud combination with Birch Communications, but gained another 39% since then, including a 6.5% drop-off yesterday.
  • Now read: Ubiquiti Networks: The Moats And The Traits


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