Insider Weekends

Insider Weekends: Return of the Meme Stocks

Insider Weekends: Return of the Meme Stocks

In a re-run of a movie we have seen before, the “meme stocks” GameStop (GME)  and AMC Entertainment (AMC) saw their stocks surge last week with GameStop registering a gain of over 67% for the week and AMC delivering gains of 28% in a single week. While three different insiders of GameStop purchased shares as discussed below, AMC saw continued insider selling. The billionaire founder of online pet retailer Chewy, ...

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Insider Weekends: ICONIQ Adds To Its Stake In Procore Technologies

Insider Weekends: ICONIQ Adds To Its Stake In Procore Technologies

The huge drop we saw in most markets earlier this week triggered a large number of insider purchases and it was interesting to watch both the S&P 500 and the Nasdaq close in positive territory for the week. Growth stocks staged a big comeback and beaten down Chinese technology stocks saw their biggest one-day gains after the government seemed to soften its stance towards overseas listings and indicated its efforts ...

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Insider Weekends: Harold Hamm Purchases $20 Million Worth of Continental Resources

Insider Weekends: Harold Hamm Purchases $20 Million Worth of Continental Resources

A challenging macro environment continued to roil markets last week with the S&P 500 dropping 2.4% and the Nasdaq dropping 3.6%. Inflation remained persistently high, rising 7.9% in February, WTI crude briefly touched $130 per barrel earlier in the week (Brent went even higher touching $140 per barrel) and the war in Ukraine shows no signs of abating. The humanitarian toll this unnecessary war is creating is painful to watch. ...

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Insider Weekends: Airbnb Insiders Selling Into The Decline

Insider Weekends: Airbnb Insiders Selling Into The Decline

Insider selling is usually not a strong signal because insiders sell for a variety of reasons including the need to diversify their investments, to fund a large purchase, paying for a child’s education, etc. This has been confirmed by academic research over several decades and aligns with what I have seen during the last 12 years of tracking insider transactions every week. The only times I pay attention to insider ...

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Insider Weekends: Déjà Vu

Insider Weekends: Déjà Vu

Investors sometimes believe that they should focus almost exclusively on what is going on with a company to inform their investment decisions and not pay much attention to the macro environment. This approach may work at times but can be detrimental when the macro environment is in a state of flux, where entire economies or industries might be impacted by the prevailing winds of change. We are very much in ...

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Insider Weekends: Peter Kamin Purchases Shares Of IAA

Insider Weekends: Peter Kamin Purchases Shares Of IAA

One of the things I love about working on this series of Insider Weekends posts each weekend is discovering new companies that I might not have looked at otherwise. This week I came across Insurance Auto Auctions or IAA (IAA), a company, as the name indicates, runs auctions for insurance companies that are getting rid of totaled cars. Fleet operators that want to sell high mileage cars or dealers that ...

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Insider Weekends: Dan Shulman Purchases Shares of PayPal

Insider Weekends: Dan Shulman Purchases Shares of PayPal

PayPal (PYPL) went public twenty years ago in February 2002 but its stint as a public company was short lived. Just a few months after the company’s IPO at $13 per share, eBay (EBAY) decided to acquire the company for $1.5 billion much to the delight of the PayPal Mafia, that went on to found a plethora of very successful companies including LinkedIn (Reid Hoffman), Yelp (Jeremy Stoppelman and Russell ...

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Insider Weekends: Cluster of Insider Purchases at NextEra Energy

Insider Weekends: Cluster of Insider Purchases at NextEra Energy

Market volatility remained elevated last week with big swings in both directions and the Nasdaq dragged down by single-day drops of 25% or more in stocks like PayPal (PYPL) and Meta Platforms (FB). It certainly did not feel like the S&P 500 closed up for the week given the carnage underneath the surface, especially in tech stocks. Expectations of a challenging market were one of the reasons we wrote about ...

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Insider Weekends: Reed Hastings Purchases $20 Million Worth Of Netflix

Insider Weekends: Reed Hastings Purchases $20 Million Worth Of Netflix

Insiders of Netflix (NFLX) rarely tend to purchase shares of the company but when they do, I pay attention. The last time we saw an insider buy shares was in August 2019 when we saw  Director Brad Smith purchase $2 million worth of shares at an average price of $308.49 per share. Mr. Smith had served on Netflix’s board since March 2015 and this was his first purchase. The most ...

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Insider Weekends: Co-Founder Of Thor Industries Purchases Shares Again

Insider Weekends: Co-Founder Of Thor Industries Purchases Shares Again

What we saw in the markets this week was particularly worrisome because the sell off was broad-based and even asset classes with low correlations between them appeared to be down. We are currently seeing mean reversion in full swing. As market participants who have invested through multiple cycles know, mean reversion often overshoots the mean. In other words, stocks can go from “strong buy” to “screaming buy” to “how can ...

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