Executives in charge of the companies benefiting from the rally are showing signs of anxiety
While some analysts have warned against reading too much into insider sales because factors other than valuations can influence the action, a similar spike this year and in 2018 foreshadowed equity losses.
UnitedHealth Group Inc. Chairman Stephen J. Hemsley and Morgan Stanley Chief Executive Officer James Gorman are among insiders that have sold shares of their own companies this month.Executives were one of the few groups daring enough to go bargain hunting during the market rout in March. Back then, they scooped up shares at the fastest pace in nine years as stocks plunged into the fastest bear market on record.
In terms of total value, insiders sold US$52.6 million of shares last week while their purchases reached US$3.4 million, according to data compiled by Bloomberg.Article content continued
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