‘They are Just Doing Stupid Things’: Billionaire Investor Leon Cooperman Says the Rise of Robinhood Traders will ‘End in Tears’ (Business Insider)
Amateur investors have been piling in money into different stocks and taking advantage of the market crash over recent weeks, but the billionaire investor Leon Cooperman has rebuked these gains and believes they will “end in tears.” Cooperman, who is the chairman and chief executive of Omega Advisors, told CNBC’s “Half-Time Report” on Monday: “They are just doing stupid things, and in my opinion, this will end in tears.” The famed investor referred to the online trading platform Robinhood’s surge in account openings, with more than 3 million new accounts created this year.
Wednesday 6/17 Insider Buying Report: PCVX, AAP (Nasdaq.com)
On Tuesday, Vaxcyte’s Director, Patrick J. Heron, made a $4M buy of PCVX, purchasing 250,000 shares at a cost of $16.00 a piece. So far Heron is in the green, up about 118.5% on their buy based on today’s trading high of $34.96. Vaxcyte Inc is trading up about 1.7% on the day Wednesday. This buy marks the first one filed by Heron in the past twelve months. And at Advance Auto Parts, there was insider buying on Monday, by CEO Thomas Greco who bought 7,285 shares at a cost of $136.13 each, for a total investment of $991,707. Advance Auto Parts is trading up about 0.7% on the day Wednesday. So far Greco is in the green, up about 6.8% on their purchase based on today’s trading high of $145.45.
Cannae Holdings Inc (CNNE) Executive Vice President & CFO Richard L. Cox Bought $1 million of Shares (Guru Focus)
Executive Vice President & CFO of Cannae Holdings Inc, Richard L. Cox, bought 26,667 shares of CNNE on 06/15/2020 at an average price of $37.5 a share. The total cost of this purchase was $1 million.Cannae Holdings Inc is a diversified holding company. The company holds investments in a variety of industries including Restaurants, Technology Enabled Healthcare Services, Financial Services and more.
A Director at Cigna (NYSE: CI) is Buying Shares (Analyst Ratings)
Yesterday, a Director at Cigna (CI), Eric Foss, bought shares of CI for $1.02M. This recent transaction increases Eric Foss’ holding in the company by 20.85% to a total of $5.92 million.
Insider-Trading Tipster Deserves More Than 18 Months, U.S. Says (Bloomberg)
(Bloomberg) — The son of a pharmaceutical company director who provided secret information to a participant in a global insider-trading network should be sentenced to more than 18 months in prison, U.S. prosecutors told a judge in New York. Telemaque Lavidas was convicted in January of leaking corporate secrets he got from his father, a director of Ariad Pharmaceuticals Inc. Lavidas is set to be sentenced June 25.
Insider-Trading Investigation Against Kelly Loeffler Dismissed (Fox Business)
WASHINGTON — The U.S. Senate Ethics Committee has cleared Senator Kelly Loeffler of wrongdoing in connection with stock trades, her office said on Wednesday, after the wealthy Republican – who is in a tough election race – was criticized over share sales during the coronavirus outbreak. “The Senate Ethics Committee has come to the exact same conclusion as the U.S. Department of Justice: Senator Loeffler did absolutely nothing wrong and has been completely exonerated,” a Loeffler representative said in a statement.
