Mubadala Investment Company Takes a 9.5% Stake in EQX

The most significant insider activity on today's list comes via a 13D filing by Mubadala Investment Company.

The sovereign wealth fund, which manages a portfolio for the government of Abu Dhabi, reported an initial stake of 9.50% in Equinox Gold Corp $EQX.

The fund's top holdings include GlobalFoundries and Evotec SE.

It’s not uncommon for insiders to buy stocks when they’re still in the accumulation or base-building phase. We see them buy downtrends and beaten-up names all the time as well. 

What we don’t see as much is insiders stepping in and reporting a brand-new stake just as a fresh trend reversal is shaping up.

That’s what is happening here with EQX and Mubadala’s $230 million investment.

Here’s The Hot Corner, with data from October 7, 2024: