Unfortunately for its shareholders, the Amaysim Australia Ltd (ASX: AYS) share price has been one of the worst performers on the market this week.
Despite a small gain today its shares are down over 10% since Monday.
What happened?
The growing telco company's shares were sold-off on Tuesday after it emerged that managing director and CEO Julian Ogrin had offloaded 833,605 shares for just short of $1.6 million.
According to the release, he has sold the shares in order to meet his expected tax obligations.
It isn't just Mr Ogrin selling shares either. According to recent releases, Investors Mutual, Challenger Ltd (ASX: CGF), and Merlon Capital Partners have all reduced their holdings in the company during the last 30 days.
This latest decline means Amaysim's shares have fallen around 15% year-to-date. Fellow telco shares Telstra Corporation Ltd (ASX: TLS) and TPG Telecom Ltd (ASX: TPM) have also fallen by a similar amount.
