Insiders stock up on retail stocks — the final clearance?
With many retail stocks hitting multi-year lows and daily headlines about weak consumer spending, something is interesting is happening: The society who should know the most about these companies, the insiders, are buying their own stock at an unprecedented clip, reports Bloomberg.
Executives at Limited Brands (NYSE: LTD) and Dillards (NYSE: DDS) have been scooping up their own beaten-down stock. Executives at Foot Locker (NYSE: FL) and Chico’s (NYSE: CHS) have plus been meaningful buyers.
Is that a bullish sign? Perhaps. After all, it’s been said that while CEOs sell their shares for all kinds of reasons, they only buy stock for one reason: they think it’s going up. That’s a pretty good maxim, but it can lead you astray in some cases.
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Original post by Zac Bissonnette
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