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Did Corporate Insiders Perfectly Predict the Market Top?
In August, the volume of personally owned stock sold by corporate executives reached its highest level since 2015, followed by a 10% decline in the S&P 500 in September.
Updated Sep 14, 2021, 10:00 a.m. Published Sep 24, 2020, 7:00 p.m.
In August, the volume of personally owned stock sold by corporate executives reached its highest level since 2015, followed by a 10% decline in the S&P 500 in September.
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today on the Brief:
- Initial U.S. jobless claims up to 870,000
- Partial lockdowns begin in earnest in Europe and Israel
- The global demand for American stocks
Our main discussion: Did corporate insiders perfectly time the market top?
August saw the largest volume of insider selling since 2015, with more than 1,000 corporate officers offloading $6.7 billion in stock. Subsequently, the market has seen a 10% decline since the S&P 500 all time high of Sept. 2. What’s more, according to new statistics, insider selling is happening at the fastest pace since 2012.
The question is: What do these executives know that the rest of the market doesn’t?
See also: Violent Reflexivity: Why Market Movements Are More Aggressive Than Ever, Feat. Corey Hoffstein
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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