CFLT - 2 Monster Growth Stocks That Millionaires Can't Stop Buying
Watching selling activity from insiders can be tricky, especially considering that sales from insiders don't always signify a lack of confidence in the company. Rather, many insiders get paid via stock, so they sell chunks frequently to fund their lifestyles. A stock purchase, however, typically suggests confidence in the company.
Therefore, aggressive insider buying activity within The Trade Desk (NASDAQ: TTD) and Confluent (NASDAQ: CFLT) is exciting. In May and June, big names bought up shares: Brad Gerstner, CEO of Altimeter Capital and a 10% shareholder of Confluent, bought more than 131,000 more shares of Confluent bringing his stake to more than 14.4 million shares. And one member of The Trade Desk's board of directors, David Wells, has also been an active buyer. In May, the former Netflix CFO acquired 17,500 shares of The Trade Desk to bring his total stake up to more than 106,000 shares.
Should investors follow in the footsteps of these two millionaires? Here's why that might be a wise decision.
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2 Monster Growth Stocks That Millionaires Can't Stop Buying