Lynette Zang: Corporate Insiders Are Selling Stocks While Central Banks Are Buying Gold

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by Lynette Zang of ITM Trading

As a Wall Street “Unicorn” it’s current market cap is $58.2 billion, even though there are losses as far as the eye can see.

On June 12th the stock price surged 3.19% and is now up 40% from its April low, when Wall Street questioned its ability to sell more debt. Why? Because Tesla is cutting its work force by 9%.

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Last week I asked if the tax changes and repatriation had kicked into gear. The speech by SEC Commissioner Robert Jackson, Jr. confirms this.

In the first quarter of 2018 American corporations “bought back a record $178 billion in stock” and CNBC points out that there is $2.5 trillion set to “pour into buybacks, dividends and M&A this year”. It seems the tax changes and repatriation has indeed, kicked into gear, pushing markets higher.

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Personally, I think you should always do what the smartest guys, on any given topic, do for themselves. Corporate insiders are selling stocks and central banks are buying gold. I think that says it all.

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