The huge drop we saw in most markets earlier this week triggered a large number of insider purchases and it was interesting to watch both the S&P 500 and the Nasdaq close in positive territory for the week. Growth stocks staged a big comeback and beaten down Chinese technology stocks saw their biggest one-day gains after the government seemed to soften its stance towards overseas listings and indicated its efforts to “rectify” technology companies would end soon.
The top 5 insider purchases listed in the post this week barely scratch the surface of the number of insider transactions we saw this week. We highlighted some of them including insider buying in the luxury real estate broker Douglas Elliman (NYSE:DOUG) and the coconut water company Vita Coco (NASDAQ:COCO), in three Twitter threads here, here and here. Douglas Elliman was spun out of the Vector Group (NYSE:VGR) at the end of last year and at one point last week, the stock was down more than 45% post spin-off.
