CEOs and Insider Were Selling Into The Rally

Chris C · 23rd Jun, 2009

Insiders Exit Shares at the Fastest Pace in Two Years (Update1) - Bloomberg.com

June 22 (Bloomberg) -- Executives at U.S. companies are taking advantage of the biggest stock-market rally in 71 years to sell their shares at the fastest pace since credit markets started to seize up two years ago.

Insiders of Standard & Poor’s 500 Index companies were net sellers for 14 straight weeks as the gauge rose 36 percent, data compiled by InsiderScore.com show. Amgen Inc. Chairman and Chief Executive Officer Kevin Sharer and five other officials sold $8.2 million of stock. Christopher Donahue, the CEO of Federated Investors Inc., and his brother, Chief Financial Officer Thomas Donahue, offered the most in three years.

Sales by CEOs, directors and senior officers have accelerated to the highest level since June 2007, two months before credit markets froze, as the S&P 500 rebounded from its 12-year low in March. The increase is making investors more skittish because executives presumably have the best information about their companies’ prospects.
Click to expand...

Is the bad news starting to get more headline time the sight of "green shoots" and are we about to see the next leg down?

davo6253 · 23rd Jun, 2009

How can there be a sustained rally when the CEO's don't believe in their own companies? I personally can't see how a rally apart from an irrational one based on hope is going to eventuate any time soon, that's just my opinion though. I am bias though, I would love for equities to drop lower than for a chance to buy in and RE in Australia for the same reason.

Cheers,
David

Log in or Sign up

CEOs and Insider Were Selling Into The Rally

Chris C Well-Known Member

davo6253 Well-Known Member

Log in or Sign up

CEOs and Insider Were Selling Into The Rally

Chris C Well-Known Member

davo6253 Well-Known Member

Useful Searches