On Tuesday, Ottawa announced rules that could make it easier for airlines to form joint ventures and attract foreign investment. WestJet shares advanced 2 per cent on the news, although the stock gave up those gains on Wednesday. Nevertheless, at least one insider saw the Wednesday dip as a buying opportunity. Indeed, as WestJet shares have struggled over the past 90 days, company directors have spent $335,300 buying stock in the market. This buying comes as the company has spent $4.2-million buying back shares (not on chart).
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.
Graph Footnote:
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
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