AMD, Dropbox And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at AMD, Dropbox, Rockwell Automation, and MGM Resorts International have recently sold shares, signaling potential concerns about the companies' prospects or overpriced stocks. This may present an opportunity to go short on these stocks.
June 14, 2023 | 12:42 pm
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NEGATIVE IMPACT
AMD President Victor Peng sold 105,000 shares at an average price of $124.57, receiving around $13.08 million. This follows a Data Center and AI Technology premiere and CEO Lisa Su's appearance on CNBC.
Insider selling can indicate concerns about a company's prospects or overpriced stock. With AMD President selling a significant number of shares, it may signal a lack of confidence in the company's future performance, potentially leading to a short-term negative impact on the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Dropbox Chief Legal Officer Bart Volkmer sold 10,113 shares at an average price of $23.96, receiving around $242.32 thousand. This follows better-than-expected first-quarter results.
Despite better-than-expected Q1 results, Dropbox's Chief Legal Officer selling shares may indicate concerns about the company's future performance or overpriced stock. This could lead to a short-term negative impact on the stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
MGM Resorts International CHIEF LEGAL ADMIN OFC AND SECY John McManus sold 10,000 shares at an average price of $43.91, receiving around $439.06 thousand. BetMGM, owned by MGM Resorts and Entain Plc, launched its mobile sports betting app in Puerto Rico.
MGM Resorts insider selling shares may indicate concerns about the company's prospects or overpriced stock, despite the launch of BetMGM's mobile sports betting app in Puerto Rico. This could lead to a short-term negative impact on the stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Rockwell Automation President and CEO Blake D Moret sold 4,855 shares at an average price of $315.00, receiving around $1.53 million. The company declared a quarterly dividend of $1.18 per share on common stock.
Rockwell Automation's CEO selling shares may indicate concerns about the company's prospects or overpriced stock, despite declaring a quarterly dividend. This could lead to a short-term negative impact on the stock price.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 100