2 FAANG Stocks Billionaires Are Buying Hand Over Fist in a Nasdaq Bear Market (The Motley Fool)
Some wealthy hedge fund managers have been buying FAANG stocks throughout the year. This year has been tough for investors, to put it mildly. The Nasdaq Composite nosedived into the worst bear market of the decade, and the tech-heavy index is currently 30% off its high. But some billionaire hedge fund managers bought stocks throughout the downturn. For instance, Steven Cohen of Point72 Asset Management aggressively scooped up shares of Amazon (AMZN -0.31%), growing his position 14-fold since the end of 2021.
Thunderbird Responds – Voss Capital’s Refusal to Engage Risks Significant Value Destruction (The Buffalo News)
Thunderbird Entertainment Group Inc. (TSXV: TBRD, OTCQX: THBRF) (Thunderbird or the Company) today set the record straight regarding a proxy fight instigated by Texas-based hedge fund Voss Capital LLC (“Voss”) in a misguided attempt to put Thunderbird up for sale. Thunderbird also corrects certain other factually inaccurate and misleading claims by Voss in its November 18, 2022 news release. Thunderbird hoped to avoid a distracting and value-destructive proxy fight. Over the last several weeks, Thunderbird engaged privately with Voss to avert an ugly, costly fight that will negatively impact all stakeholders. A proxy fight will be distracting to management, unsettling to the team, and could create unrest with buyers and customers.
Hedge Funds Hit With Redemptions (Institutional Investor)
Hedge funds have outperformed public markets but are now suffering from redemptions as investors find they are overweight alternatives. Hedge funds are experiencing high levels of redemptions from investors as their current allocation to alternatives stays well above their targets. Private equity is also suffering from the pressure of overallocation. In North America, the average investor allocation to hedge funds stands at 15.2 percent, more than three percentage points over the average target allocation of 11.9 percent, according to a Preqin report published on Tuesday.
Wednesday 12/7 Insider Buying Report: ERNA, GNTY (Nasdaq.com)
On Friday, Eterna Therapeutics’, Nicholas Jason Singer, made a $929,178 purchase of ERNA, buying 283,286 shares at a cost of $3.28 a piece. Singer was up about 93.0% on the buy at the high point of today’s trading session, with ERNA trading as high as $6.33 in trading on Wednesday. Eterna Therapeutics Inc is trading down about 2.9% on the day Wednesday. This purchase marks the first one filed by Singer in the past year. And on Monday, Director Richard W. Baker bought $741,054 worth of Guaranty Bancshares, buying 21,536 shares at a cost of $34.41 each. Before this latest buy, Baker bought GNTY on 12 other occasions during the past year, for a total cost of $1.18M at an average of $34.45 per share. Guaranty Bancshares is trading trading flat on the day Wednesday. So far Baker is in the green, up about 0.7% on their purchase based on today’s trading high of $34.66.
Microsoft, Motorola Solutions And These 3 Other Stocks Insiders Are Selling (Benzinga)
Microsoft: The Trade: Microsoft Corporation (MSFT) EVP, Chief Commercial Officer Judson Althoff sold a total of 24,144 shares at an average price of $254.27. The insider received around $6.14 million from selling those shares. Motorola Solutions: The Trade: Motorola Solutions, Inc. (MSI) Chairman and CEO Gregory Q Brown sold a total of 34,000 shares at an average price of $268.27. The insider received around $9.12 million from selling those shares.
