Insiders Are Dumping Stocks At The Fastest Pace In Months
Having aggressively bought the f**king dip off the March 2020 lows, supported a tsunami of free money spewing forth from every government orifice, it appears that ‘insiders’ have little interest in catching the falling knife now that The Fed has turned its back.
As Bloomberg reports, corporate insiders dumped their own shares aggressively in August, with some 2,150 executives hitting the sell button, the most since November 2021 on a net basis.
That’s pushed the ratio of insider selling to buying to the highest since February, data compiled by the Washington Service show.
“It’s yet another signpost, another signal that there is a high degree of uncertainty around the future,” Quincy Krosby, LPL Financial’s chief global strategist, said by phone.
“The view is that, with regards to both selling and buying, corporate insiders know what they’re doing. It adds to this general sense of uncertainty that’s already out there.”
The surge in insider-selling matches the slumping sentiment toward third-quarter operating margins, with expectations falling to 16.08% from 16.87% over the past eight weeks, data compiled by Bloomberg Intelligence show.
“A tremendous amount of weakness was clearly anticipated ahead of summer’s earnings, but even more is expected, given the pace of negative revisions picked up as the breadth of weakness spread beyond growth in recent weeks to include value stocks,” Gina Martin Adams, chief US equity strategist at Bloomberg Intelligence, said in a note.
And don’t forget, it’s that time of the month again…
Finally, we note that it wasn’t just ‘insiders’, global equity funds had outflows of $9.4 billion in the week to Aug. 31, the fourth-largest redemptions this year, according to EPFR Global data cited by BofA. US equities had the biggest exodus in 10 weeks, while $4.2 billion left global bond funds.
Don’t fight The Fed works both ways…
Tyler Durden Sat, 09/03/2022 – 16:00
Source: https://freedombunker.com/2022/09/03/insiders-are-dumping-stocks-at-the-fastest-pace-in-months/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).