Free

Deja vu…

Remember the good old days when technology companies that weren’t making any money would see their stocks double or even triple? It’s happening again — right now — at Tivo (TIVO) . The company, which filed its 10-Q late Monday, reported a loss of 7 cents a share for the quarter. Expensing stock options, which Tivo disclosed in the footnotes to its 10-Q, would have increased the loss to 12 cents a share. (For more on Optional Illusions, see Chapter 5). Yet Tivo’s stock has tripled in the past year. Tivo executives and directors are cashing in on the windfall, selling over 100,000 shares since Aug. 1. Almost all of that selling was done by Tivo’s top 3 executives, who have collectively sold 92,000 shares since Aug. 1.