Canadian telecom stocks were already suffering from the market downturn in June when word hit late last month that U.S. giant Verizon was making moves to potentially enter Canada. Fearing the worst, investors sold the stocks of BCE Inc. and others. However, the day after BCE made a 52-week low of $40.58 on June 26, director Barry Keith Allen bought 2,500 shares on the New York Stock Exchange where they also trade. Earlier, on June 14, director Robert Simmonds bought 11,000 shares on the TSX.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Infographic reflects public-market transactions of common shares or unit trusts by company officers and directors.