Top insider trades (Fri, Nov 7)

Connor’s Commentary

We found 204 new insider trades (and another day with over 40% of the unscheduled trades being purchases).

• The market has been falling apart over the last couple of days, but insiders continue buying. They seem to believe Trump will step in again as he always has.

• A director at JetBlue (JBLU) is buying $200k of the stock with flight cancellations looming due to the government shutdown

• The CEO at AXT, Inc. (AXTI) is in the running for Insider of the Year. He bought the stock at $1.32 in February, and is now selling it at $8.65

• Sylebra Capital is selling Imping (PI) again. Historically, they’ve timed their sales pretty well.

• We have the first insider buy at Core Scientific (CORZ) after the termination of the deal with CoreWeave (CRWV), with a director buying $100k

• An insider is buying a company’s stock just days before earnings

• More compelling regional bank insider buying with 3 more insiders, who all have good track records, buying Greene County Bancorp (GCBC)

• Four executives at Relmada Therapeutics (RLMD) bought the stock as part of a $100M public offering. They also have earnings next week

• and more…

I go into more depth on these companies in the Today’s Top Trades and Other Trade Notes sections.

Commentary

It was a brutal day yesterday, as we had multiple killer calls that shot up and then faded due to a weak market.

On August 12th, we found the Exec Chairman at Shift4 (FOUR) buying $16M of the stock after the stock fell 20% after earnings.

It actually wasn’t highlighted as a Top Insider Buy because he didn’t have a good track record. However, the stock got hit again after the disastrous Fiserv (FI) earnings last week, and then we saw the CEO tweet this out just a few days before earnings.

This tweet, combined with his $16M purchase, made it seem likely that earnings would be good.

And, we were correct! Earnings were solid, and the stock popped 12%. However, it then faded all the way back to red by the end of the day.

Fortunately, I was able to get out of my Nov 21st calls for a 25% gain, but on a less brutal day, the results would’ve been much better.

In yesterday’s email, I also mentioned how we made a quick 10% on Relmada Therapeutics (RLMD) after seeing purchases come in from the CFO and CEO.

Like Shift4 (FOUR), Relmada gave back its entire pop before finishing up just 4%.

On the flip side, many of the stocks with a lot of insider selling are getting crushed. Power Solutions (PSIX) has been a very popular stock, but we noted at the end of August how insiders were finally unloading the stock after its 300%+ run in the previous year.

The stock is now down 17% after poor earnings yesterday.

Insider selling doesn’t always work (and they often tend to sell too early), but when insiders have been selling + the momentum stops (the stock finally broke below the 50d just last week) + the story starts to break, it’s definitely worth paying attention.

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🔒 Today’s Top Trades

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🔒 Other Trade Notes

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🔒 Data Dump

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