FAST FIVE: Bezos And Other Corporate Execs Sold Billions In Stock Before COVID-19 Rocked Market
More than 150 executives and officers individually sold at least $1 million worth of stock in February and March after having sold no stock in the previous 12 months, the Journal analysis found.
14, pre-empting potential losses of more than $9.3 million and Lance Uggla, CEO of IHS Markit Ltd., a data and analytics firm, who sold $47 million of his shares around Feb.
He sold $99 million in February and early March, avoiding paper losses of about $40 million.
And as we noted last September, insider selling hit a 20-year high as corporate buybacks soared.
To summarize: Companies issue record amounts of debt Companies use the debt to repurchase record amounts of stock Insiders sell (near) record amounts of stock to their own company, even as retail investors buy everything with the S&P at all time high Months later, with coronavirus ravaging China and beginning to take a foothold in the US, execs sold more.