The Nasdaq Composite jumped over 750 points on Thursday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.
Lordstown Motors
- The Trade: Lordstown Motors Corp. (NASDAQ:RIDE) 10% owner Stephen Burns sold a total of 4,760,000 shares at an average price of $1.94. The insider received around $9.23 million from selling those shares.
- What’s Happening: Lordstown Motors recently announced Foxconn will invest up to $170 million in the company.
- What Lordstown Motors Does: Lordstown Motors Corp is an electric vehicle innovator developing high-quality light duty commercial fleet vehicles, with the Endurance all electric pick-up truck as its first vehicle being launched in the Lordstown, Ohio facility.
Amazon, Apple, Tesla And Other Big Gainers From Thursday
eBay
- The Trade: eBay Inc. (NASDAQ:EBAY) VP, Chief Accounting Officer Brian J Doerger sold a total of 4,311 shares at an average price of $41.89. The insider received around $180.6 thousand as a result of the transaction.
- What’s Happening: eBay recently reported better-than-expected Q3 EPS and sales results.
- What eBay Does: eBay operates one of the largest e-commerce marketplaces in the world, with $87 billion in 2021 gross merchandise volume, or GMV, rendering the firm the sixth-largest global e-commerce company.
Have a look at our premarket coverage here .
Marathon Oil
- The Trade: Marathon Oil Corporation (NYSE:MRO) Executive VP, Operations Michael A Henderson sold a total of 80,000 shares at an average price of $32.56. The insider received around $2.6 million from selling those shares.
- What’s Happening: Marathon Oil recently reported better-than-expected Q3 EPS and sales results.
- What Marathon Oil Does: Marathon is an independent exploration and production company primarily focusing on unconventional resources in the United States.
Moderna
- The Trade: Moderna, Inc. (NASDAQ:MRNA) Director Noubar B. Afeyan sold a total of 10,000 shares at an average price of $162.50. The insider received around $1.63 million from selling those shares.
- What’s Happening: Moderna recently reported worse-than-expected Q3 EPS and sales results.
- What Moderna Does: Domino's is a restaurant operator and franchiser with nearly 19,000 global stores across more than 90 international markets at the end of 2021.
