Elon Says Twitter Deal Is "On Hold"

Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.

The stock is lower by about 15% in the pre-market as investors cast doubts about the deal.

In other big insider news, FTX founder Sam Bankman-Fried reported a 7.6% stake in the battered retail broker Robinhood $HOOD.

The stock is currently down over 90% from its 2021 highs, but it’s up almost 25% since this news hit the wire last night.

Founder and interim CEO of Starbucks $SBUX Howard Schultz purchased roughly $10 million worth of stock in the coffee chain.

The largest insider transaction on today’s list comes to us in a Form 4 filing by Abdiel Capital Management.

The hedge fund continues to grow its position in Appian Corporation $APPN. It just revealed an additional purchase that brings its total ownership to 15%.

The only 13G on our list was filed by Camber Capital Management LP, which revealed an ownership stake of 5.85% in Myriad Genetics $MYGN.

Here’s The Hot List, with data through May 12, 2022:

We continue to see insider activity in B. Riley Financial $RILY, as the co-CEO and chairman of the company filed yet another Form 4 revealing purchases.

Media mogul Barry Diller filed a 13D revealing a 3.8% ownership stake in the online travel platform Expedia Group $EXPE. He is the company chairman.

The CEO, CFO, chairman, and two directors of ViewRay $VRAY filed Form 4s revealing purchases in their own stock.

Last but not least, we saw bullish flow in the Dutch semiconductor company NXP Semiconductors $NXPI and the clothing and accessories retailer The Gap Inc $GPS.

Have a great weekend. We'll be back Monday with more insider action.

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All Star Charts Team