4 ms·
Your link shows $82M of buying by insiders compared to just $47M of selling over the past 12 months, so I'm not sure I understand your point.
by dahdum 4y ago
Your link shows $82M of buying by insiders compared to just $47M of selling over the past 12 months, so I'm not sure I understand your point.
- graeme 4y agoInteresting. 100% of buys were from two directors, Tobias Lutke of Shopify and Fred Ehrsam, former cofounder. 100% of sells have been management.
- ddulaney 4y agoManagement selling is pretty typical. You'd have to dig into Coinbase specifically, but if a big part of your pay is stock/options, you will generally constantly sell a portion of that. Obviously, a big spike in management sales can be a red flag.
- graeme 4y agoIt makes sense, though iirc over the life of Coinbase management has been a large net seller, larger than average. I'm interested the directors have been buying. Is that typical?
- polygamous_bat 4y agoQ2 2021 is when it was listed, and when insiders bagged $3.9B. Compare that with the scale of $82M or $47M. After Q3 2021, crypto started crashing and so did COIN stock, so I imagine insiders who knew what's up and wanted to dump got out already.
- dahdum 4y agoThey were sitting on large illiquid unrealized gains until the IPO. I can't imagine that's strange behavior in companies going public. Some funds will sell into the IPO as a rule in order to redeploy capital to other early stage investments. For early employees and founders who could have had up to 99% of their wealth tied up in Coinbase stock, some diversification is hardly odd.