TLDR Tech / Founders
Are "Insiders" Buying Beaten Down Software Stocks Yet?
Software stocks are getting crushed but almost no insiders are buying. Out of 75 public software companies, only a handful of executives have purchased stock in the open market over the past two years. Asana's CEO has bought over $1B of his own stock and lost billions in the process. The more interesting signal is at ServiceNow, where the CEO, CFO, CPO, and AI Officer all canceled their scheduled selling plans on the same day. The CEO then waited exactly six months from his last sale because of the short-swing profit rule before buying $3M worth. Sometimes the absence of selling tells you more than any purchase would.
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