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Elliot Noss, the Chief Executive Officer of Tucows Inc. (NASDAQ:TCX), has recently sold shares of the company, according to a filing with the Securities and Exchange Commission. The transactions, executed under a pre-arranged 10b5-1 trading plan, took place on January 13 and January 15, 2025. The sales come as TCX shares have declined over 25% in the past six months, according to InvestingPro data.
Noss sold a total of 300 shares, with 100 shares sold at $16.32 each and 200 shares at $16.57 each, amounting to a total value of $4,946. Following these transactions, Noss holds 483,858 shares directly. With Tucows currently showing weak financial health metrics and rapid cash burn according to InvestingPro analysis, investors should note the company's upcoming earnings report scheduled for February 6, 2025.
In addition to his direct holdings, Noss has indirect ownership of shares through various accounts. These include 114,670 shares in a retirement savings plan, 1,639 shares in a tax-free savings account, 6,000 shares in a U.S. retirement savings account, and 2,470 shares held by his spouse. Notably, Noss disclaims beneficial ownership of the shares held by his spouse.
The sales were part of a trading plan adopted on September 15, 2023, allowing for systematic selling of shares.
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