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The stock market's rally since the March 23 low has been stunning. The S&P 500 is up nearly 30% from those levels as of yesterday's close. So it's not surprising that insider selling has accelerated into the rally. Insiders were big net buyers during the panic selling last month. For the week ending...
Six Simply Good Foods insiders bought $1.1M of SMPL stock on April 9-13 at prices ranging from $16.32 to $16.86. The directors' buying comes after the consumer goods company has fallen 42% YTD. Simply Good Foods makes branded nutrition bars and ready-to-drink shakes for people following the Atkins diet and other diet plans.
Last week, Abdiel Capital added to its its Appian and Fastly stakes -- core positions for the top-performing fund. Managing partners Colin Moran and Geoffrey Gentile of New York-based Abdiel Capital Advisors aren't big on diversification. The managers prefer to focus on a small portfolio of companies with earnings streams they view as...
MGM Resorts International (MGM) stock has collapsed 72% over the last three months -- losing about $13 billion of market value -- as the Coronavirus pandemic forces a shutdown of the U.S casino industry. MGM's 30 properties around the U.S.,including its trademark MGM Grand casino and the Bellagio in Las Vegas, sit vacant. It's a nightmare...
A three day (dead cat?) bounce propelled the S&P 500 over 13% higher last week, rescuing stocks, at least temporarily, from the worst stretch of performance since the dark days of 1929. During the Coronavirus crash over the last several weeks, stocks were liquidated indiscriminately, as investors scrambled to raise cash. And if investors panic-sold stalwarts like...
The WhaleWisdom Weekly Sell vs Buy Ratio has shown historically low -- bullish -- readings for two weeks in a row. For the week ending March 16, 2020, the indicator was 0.27 -- the most bullish weekly reading since Nov. 24, 2008's weekly reading of 0.25. That insider sell vs buy ratio during the financial crisis was...
Michael Burry's Scion Management averaged down on the fund's position in Tailored Brands (TLRD), buying 402,900 shares of the distressed retailer in the days leading up to March 16. Scion now owns 7.2% of the company. TLRD closed at $1.29 on March 20, down 69% year-to date. But while Scion's small cap investments have taken a...
To say that March of 2020 in the REIT sector has been ugly does a disservice to the word. The average month-to-date loss for the top ten stocks in the retail REIT sector was 46.82% through the 19th. The Coronavirus pandemic is forcing most Americans to hunker down in their homes, leaving mall stores with minimal traffic...
The stock market crash over the last week is drawing comparisons to the mother of all bad markets -- October of 2008. There are many similarities, including this one: Bank insiders bought heavily into weakness back then, and they're beginning to buy heavily now. We've just witnessed the biggest oil-price plunge since 1991, an...
There is an old saying -- in reality a curse -- supposedly of Chinese origin: May you live in interesting times. Well the last three weeks have been extraordinarily interesting. Amidst the backdrop of an expanding global pandemic, and an oil price war, the S&P 500 yesterday fell into bear market territory with a 20% drop from...