On October 21, 2016 Supreme stock dropped about 24% to close at $13.68 per share after the Company announced that its third quarter backlog of truck sales declined 22% from the third quarter 2015.
At the October 23, 2015 earnings conference call, Supreme said that "[a]s a result of the strong order activity, our order backlog at the end of the third quarter was $74.4 million, which is 47% higher as compared to the third quarter of 2014." Similarly, the Company said on July 22, 2016 that its third quarter 2016 backlog "would settle".
Then on October 21, 2016, the Company revealed that 2015 backlog was the result of "two large fleet replacement orders and the timing of an annual fleet account order received during the third quarter of last year." Following this news, on October 22, 2016, Cliffside Research released a report about Supreme's third quarter backlog drop of 22% and the insider trading throughout 2016.
If you are aware of any facts relating to this investigation, or purchased shares Supreme, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/sts. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
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Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
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