Top insider trades (Thu, Dec 18)

Connor’s Commentary

There were 264 new insider trades filed:

• The interim CEO at 374Water (SCWO) bought $100k of the stock two days ago (first-ever purchase) and then caused the stock to fall 20% this morning with a reverse split announcement. Pretty funny fail there, but I wouldn’t be surprised to see the dip get bought up some as the CEO purchase news gets out there

• A couple of directors at Alpha Metallurgical Resources (AMR) bought $9M of the stock (now $18M of insider purchases in December)

• The CEO at Clean Energy Technology (CETY) bought 310,000 warrants with an exercise price of $2.50/share (currently ~$0.92)

• A director at Kinsale Capital (KNSL) bought $1M of the stock (first-ever purchase)

• A director at Nvidia (NVDA) sold $44M (3rd largest, out of 16)

• The Chief Tech and Data Officer at Domino’s Pizza (DPZ) sold $2.11M (largest sale ever)

• The COO at Crown Holdings (CCK) sold $2M (largest sale ever, out of 2). Their only other sale was 3.5 years ago

• The General Counsel (DG) at Dollar General (DG) sold $1M. It’s their first sale in over 3 years

• and much more…

I go into more depth on these companies in the CEO Watcher Premium sections below.

Commentary

Naturally, the day after we were forced to sell a handful of things in the CEO Watcher Portfolio due to our sell rules, the inflation and jobs data came out better than expected and caused the S&P to open up 1% and jump back above the 50d.

Micron Technology (MU) also smashed earnings and is up 16%. Unlike other semiconductor stocks that beat earnings but faded, they got lucky that their earnings coincided with a strong S&P day, which should prevent a major fade.

The only tech/AI stock with significant insider buying recently has been Marvell (MRVL). We found four different insiders buying the stock back in September. Plus, they increased their share repurchase program, and the CEO held a call to literally tell everyone that they do not see any revenue holes and investors need to stop worrying.

The stock did beat earnings as we expected, but we were not fortunate to have a strong market that day, and it gave back its entire 10%+ of gains.

The stock has been very choppy since those insider purchases and is basically flat (even though it was up 20% at one point).

It’s been a wildly annoying stock to own so far, but maybe the Micron earnings and economic data can help kick it into gear.

keep scrolling. top trades + all of the charts and data below

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