That's the phrase analyst Andrew Schmitt of Infonetics Research Inc. wrote on Twitter Monday after an SEC filing revealed Fallon had acquired 50,000 shares on the open market -- that is, through normal channels and not through bonuses or options.
It's the kind of thing the market likes to hear. Infinera shares were up 58 cents (12%) at $5.44 by late afternoon trading.
Fallon's purchases were made last week at a weighted average of $4.47 per share. He also exercised options on, but didn't sell, 100,000 more shares at $2 apiece. He now holds more than 624,000 shares, according to the filing.
Infinera is ramping up its new DTN-X platform, and it has a big announcement coming on Dec. 6. Sources assume it will be the signing of CenturyLink Inc. (NYSE: CTL) as a customer, Infinera's first win at a Tier 1 North American telco.
Even so, the company's stock has always been a bumpy ride. Infinera's stock has dropped steadily for most of this year and is trading at about half its level of January 2011.
- Infinera Slices & Dices Its 500G
- Infinera Has Tier 1 News (Soon)
- ECOC 2012: Infinera's Tier 1 Traction
— Craig Matsumoto, Managing Editor, Light Reading