 We printed 1,000 copies of this report. 688 are gone. When the last one goes out, we're pulling it offline — the information inside is too sensitive to leave up indefinitely. Here's what's inside the remaining copies: The executive order Trump can sign tomorrow — the same legal authority FDR used in 1934 to move billions in wealth overnight — and exactly how to position before it happens. This isn't a newsletter. It's not evergreen content. It's a window. And 688 people already jumped through it.
Claim one of the 312 remaining copies → We won't reopen this once it's closed. Get my copy now →
Special Report
AI Insider Selling: Sales Hit Photronics, Credo & CoreWeave as Shares SpikeWritten by Leo Miller. Publication Date: 4/27/2026. 
Key Points
- AI stocks Photronics, Credo, and CoreWeave have put up big-time gains in 2026.
- However, as these stocks spike, insiders are making significant sales.
- Top CoreWeave insiders continue to dump the stock, an overhang on shares.
- Special Report: Wall Street banks are fighting over one IPO
Insiders are making moves in three soaring artificial intelligence (AI) stocks, selling millions of dollars' worth of shares. Knowing which of these sales are clear warning signs and which are less concerning requires a closer look. Here’s what recent insider trades are signaling. Photronics’ Insider Sales Soar Alongside SharesFirst up is a name that garnered significant attention near the end of 2025, Photronics (NASDAQ: PLAB). Photronics sells photomasks, key components in semiconductor manufacturing. The stock jumped more than 45% in a single day in December after an impressive earnings report and an announcement of sizable capital expenditures, signaling strong demand. Photronics has continued to climb in 2026, rising more than 50% year to date.
As shares advanced, Photronics also experienced a notable increase in insider selling in Q2. MarketBeat tracked about $14 million worth of sales during the quarter, up from roughly $3.44 million in Q1. Notably, none of these sales were executed under predetermined 10b5-1 plans, indicating they were discretionary. Several of the transactions represented sizable portions of individual insiders' holdings—for example, insiders Hsueh-Chun Wang and Rui Zhang each trimmed their positions by 20% or more. Given the sharp appreciation in Photronics shares, this selling is a moderately bearish signal. However, most insiders still retain large stakes, which suggests they maintain some confidence in the company's prospects. Credo Insiders Sell as Shares Hit New HighsNext is Credo Technology Group (NASDAQ: CRDO), an AI-related stock that has seen big swings recently. Shares climbed to nearly $190 in early December 2025, dropped below $100 by early March 2026, then recovered to above $190 within two months. In late April, Credo moved to all-time highs near $195. Much of the renewed enthusiasm followed Credo’s agreement to acquire DustPhotonics, expanding its optical networking offerings alongside its copper-based products. As shares reached unprecedented levels, insiders seized the opportunity to sell roughly $21 million worth of stock in Q2. That pace, however, is largely consistent with Q1 selling; over the full three-month Q1 period, sales totaled about $53 million. Most Q2 sales were executed under 10b5-1 plans or were small relative to individual holdings, reducing their negative significance. For instance, despite multiple transactions, Chi Fung Cheng reduced his holdings by less than 2% and still holds more than 6 million Credo shares. Given those mitigating factors, Credo’s Q2 insider sales do not appear to send a strong negative signal. CoreWeave’s Insider Sales Rise by More Than 3X in Q2Finally, there’s CoreWeave, a well-known neo-cloud company, CoreWeave (NASDAQ: CRWV). The stock has been highly volatile since its March 2025 IPO—peaking above $180 in June 2025, finishing the year near $70, and recovering in 2026 to about $107 per share (up roughly 50% year to date). Over its public history, CoreWeave has seen very large cumulative insider sales—about $6.55 billion. After a drop in selling during Q1, insiders ramped up sales again. In April alone MarketBeat tracked more than $1.3 billion in sales—over three times the $396 million sold in all of Q1. Many of CoreWeave’s transactions were executed under 10b5-1 plans or had other mitigating explanations. However, that’s not the case for one of the company’s largest shareholders, hedge fund Magnetar Financial, which sold hundreds of millions of dollars of CoreWeave shares in Q2. Despite these large sales, Magnetar still indirectly holds billions of dollars' worth of CoreWeave, but the scale and frequency of sales constitute a meaningful negative overhang for the stock. CoreWeave: Insiders Sell, Analysts DisagreeOf the three companies examined, CoreWeave’s insider selling is the most consequential. The sheer size of the trades represents a technical overhang that is unlikely to disappear quickly, given Magnetar’s continued sizeable exposure and pattern of disposals. Still, Wall Street analysts generally retain a bullish stance. The MarketBeat consensus price target is near $125, implying roughly 15% upside from recent levels. Analyst targets are widely dispersed—April updates ranged from about $67 on the low end to $175 on the high end—reflecting the significant uncertainty around CoreWeave’s outlook and the potential for both substantial upside and downside. . |
No comments:
Post a Comment