A Brief Note on a Meme Stock Massacre

JC Parets
August 19, 2022

The 13D that has everyone’s attention today is not going to be on our list. That’s because we’re looking for insider buying, not insider selling.

Which brings us to meme stock master and Gamestop $GME Chairman Ryan Cohen.

Cohen filed a 13D yesterday revealing he’s completely cashed out of Bed Bath & Beyond $BBBY. The stock is currently down about 65% from its intraday highs on Wednesday.

Based on filings, Cohen’s RC Ventures netted about $60 million on these trades since March.

Now for some 13Ds that are on our list.

The first is from Swarth Investments Ltd, which revealed an ownership stake of 16.4% in Ribbon Communications $RBBN.

Cevian Capital reported a 10% ownership stake in the auto parts company Autoliv Inc $ALV.

In his latest Form 4, Phillip Forst, the chairman and CEO of OPKO Health $OPK, revealed an additional purchase of 200,000 shares in the medical test and medication company.

Here’s The Hot List, with data through August 18, 2022:

The CFO of Certara $CERT filed a Form 4 reporting a purchase of roughly $416,000 of his company’s stock.

The only 13G on our list was filed by FPR Partners LLC, revealing an ownership stake of 10% in CommScope Holding Company $COMM.

In the options markets, there was bullish flow in Antero Resources $AR, Tempur Sealy $TPX, and the English football club Manchester United $MANU.

MANU is up roughly 8% this week following a joke from Elon Musk that he might buy the club.

On the other hand, Deutsche Bank $DB and Shopify $SHOP experienced bearish flow.

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

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All Star Charts Team

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