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Friday, March 29, 2024

INSIDERS STILL NOT BUYING THE RALLY

INSIDERS STILL NOT BUYING THE RALLY

Courtesy of The Pragmatic Capitalist

Insider selling for the latest weak spiked to $846MM while buying remained abnormally low at $14.7MM.  Selling spiked almost 3 fold, but was highly impacted by $330MM in selling in CBS by Sumner Redstone.  Buying, however, fell from $32MM.   Of course, it is the low level of buying that is particularly alarming.  Insiders continue to exhibit an unusually low level of confidence in their own companies.  As valuations spike, and the jobless/revenue-less recovery continues it’s not surprising to see insiders display a high level of skepticism in the rally that is most visible through the use of their own money.

[Tables now unavailable, suffice it to say, the insider selling was a lot more than insider buying.]

 

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