INK Ultra Money: How do insiders react to bad news?

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When bad news hits, it is a good idea to see if insiders are buying or selling. In this morning report, INK Research takes a look at insider activity after Badger Daylighting (BAD) shares fell following a Q3 earnings disappointment. Watch the YouTube version of this short video which was first published for Ultra Money members on November 19, 2019.

Was a bad Q3 followed by a good insider reaction?

Badger has initially moved higher since we released the video and it is the beginning of the week and has climbed its way back to be one of the better performing members of the INK Canadian Insider Index since the fall semi-annual rebalancing. Don't miss another INK Ultra Money stock highlight. Join the Canadian Insider Club as an Ultra member today  - use discount coupon BLACKBOX until December 31, 2019 to get $99 off a new CIN Club Ultra membership!

Video script:

Badger Daylighting provides
specialized excavation services across
a broad range of infrastructure
related industries in North America including oil & gas.
Badger has had some bad news recently.
The stock plunged almost 22% on
November 6th after announcing Q3 results.
While both revenue and net earnings were
up compared to Q3 2018,
adjusted EBITDA margin was 27.3%,
down from 30.2% in the comparable period.
Those falling margins along with
the firm's reduced 2019 guidance
for adjusted EBITDA from a mid point of
$180 million to $162.5
million likely led
some investors to dump the stock.
Seeing how insiders react to
bad news is a key benefit of insider reports.
We don't want to see insiders
selling on bad news as it
raises the question whether
more bad news is on the way.
Ideally, we want to see insiders buying as
that suggests the market
reaction may be overdone.
This is what we have seen at
Badger with insiders spending about
$1.2 million picking up shares
in the public market since
Q3 results were announced.
It is also worth noting that
the short-selling position in
Badger remains at an elevated level,
and our signals suggest the setup of
a potential short-squeeze situation.
Overall, Badger has
a mostly sunny INK Edge outlook,
placing it in the top
30% of all stocks ranked.
Our report which is not
a recommendation to buy or sell securities
is available through
or the Canadian Insider Club.
Good luck, friends, and thanks for listening!

As a reminder, INK Research does not accept payments from issuers or their promoters for stock coverage.

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