Market malaise: Companies and insiders are dumping stock, while repurchases sink
Overall new corporate share offerings, which include follow-on, convertible and initial public offerings, soared to $48.6 billion for the month, the most in a month since March 2015, according to TrimTabs Investment research data.“New offerings skyrocketed in September, suggesting U.S. companies are trying to take advantage of lofty market average before there is a more dramatic slowdown in the equity markets or the economy,” TrimTabs said in a research report to clients.
September also marked the sixth month this year that insider selling has topped $10 billion, which is already the most months to cross above that 8-figure threshold in a year since 2006, TrimTabs said. “U.S. companies committed very little cash to shrink the float in the third quarter,” TrimTabs said. “While there are seasonal factors that influence this, there has also been some softening in economic data, and the threat of a global slowdown to cash a shadow over future business conditions.”
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