GameStop, CME Group And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
The Nasdaq 100 closed higher by around 0.4% on Friday. Notable insider sales were observed in Marathon Digital, Uber Technologies, GameStop, and CME Group. Insider sales can indicate concerns about a company's prospects or that the stock is overpriced. Marathon Digital's director sold shares following a price target downgrade by JP Morgan. Uber's executive sold shares amid a new partnership announcement. GameStop's general counsel sold shares following a technical issue with their annual meeting. CME Group's director sold shares after reporting record May ADV.
June 17, 2024 | 12:20 pm
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NEUTRAL IMPACT
CME Group's director sold 3,000 shares at $195.44 each after reporting record May ADV of 26 million contracts.
The insider sale is offset by the positive news of record May ADV, leading to a neutral short-term impact on CME Group's stock.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Uber's executive sold 28,000 shares at $70.67 each amid a new partnership announcement with Lightspeed Commerce.
The insider sale is balanced by the positive news of a new partnership, leading to a neutral short-term impact on Uber's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
GameStop's general counsel sold 2,215 shares at $26.33 each following technical issues with their annual meeting.
The insider sale and the adjournment of the annual meeting due to technical issues may create uncertainty, potentially leading to a negative short-term impact on GameStop's stock.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Marathon Digital's director sold 10,217 shares at $20.50 each, following a price target downgrade by JP Morgan from $16.5 to $14.
The insider sale combined with a price target downgrade by JP Morgan suggests potential negative sentiment around Marathon Digital's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80