The stock market typically does exactly the opposite of what you expect, and last week, following the election, was no different. Many Wall Street pundits feared a massive sell-off if Donald Trump was elected president, and it has been exactly the opposite, as all of the indexes are trading right at all-time highs, and now many of those formerly bearish strategists are turning positive. One thing is for sure, the insiders are back with a vengeance, and the buyers were out in full force last week.
We cover insider buying each week at 24/7 Wall St., and we like to remind readers that while insider buying is usually a very positive sign, it is not by itself a reason to run out and buy a stock. Sometimes insiders and 10% owners have stock purchase plans set up at intervals to add to their holdings. That aside, it still remains an overall positive indicator.
Here are some of the companies that reported insider buying last week.
Abbott Laboratories (NYSE: ABT) had the man at the top of the drug giant buying shares again last week. The CEO of the company, Miles White, bought another...