Director Botha Reports a $25 Million SQ Purchase

Today’s most significant insider transaction comes in a Form 4 filing by Block $SQ director Roelof Botha.

Botha reported a $25 million purchase of SQ shares.

Artisan Partners Limited Partnership filed a 13G for Smith Douglas Homes Corp $SDHC revealing an initial stake of 10.50%.

Here’s The Hot Corner, with data from August 8, 2024:

In another Form 4, the chief operating officer of MP Materials Corp $MP, Michael Stuart Rosenthal, revealed an acquisition of 30,000 shares.

There was also insider activity in O-I Glass $OI, AGCO Corporation $AGCO, and Byline Bancorp Inc $BY.

SQ has been working on a reversal basing pattern since 2022.

Accumulation patterns like this tend to take time, as the trend gradually shifts from down to sideways to higher.

While the bulls have work to do, we prefer to wait for a decisive upside resolution above the 88 level.

If and when that happens, we can have conviction the trend has turned higher for SQ.

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

And please reach out with any questions. We love hearing from you!