 ## Insiders Are Buying: $12M in 51Talk, $5M in Upstart, $4M in Pampa Energy Friday, May 8 brought a rare sight—insiders at major companies simultaneously increased their positions. I break down the top deals worth noting. ### 1. 51Talk (COE) — $12.2M CEO Huang Jack Jiajia bought 446,700 shares at $27.36. This is the largest insider purchase of the day and the strongest signal from the company's top executive. Chinese EdTech is a sector many have written off, but the insider clearly sees it differently. ### 2. Upstart Holdings (UPST) — $5M Director Girouard Dave acquired 170,240 shares at $29.37. The fintech platform for AI-based lending—the insider is voting with his wallet for undervaluation. At current prices, UPST trades significantly below historical levels. ### 3. Pampa Energy (PAM) — $4.06M VP Mariani Gustavo bought 50,000 shares at $81.21. Argentina's energy sector is a non-obvious story, but a $4M purchase by a top executive speaks for itself. ### 4. Pool Corp (POOL) — Triple Signal Three independent directors bought shares on the same day: Perez De La Mesa for $1.9M (10,000 shares at $190), Stokely John for $193k, Hope James for $90k. A coordinated purchase by the board of directors is one of the strongest patterns. ### 5. SoFi (SOFI) — $250k from CEO CEO Noto Anthony bought 15,878 shares at $15.73. A purchase by the top executive of a fintech company amid a correction is a signal that historically yields +15-25% over the next 6 months. ### What This Means The mass surge in insider purchases on May 8 is no coincidence. When CEOs and directors simultaneously increase positions, it usually precedes a reversal. Particularly telling: - Fintech (UPST + SOFI) — two strong signals in one sector - Energy (PAM) — a large purchase in a non-US asset - EdTech (COE) — the day's record from China Keep an eye on these tickers in the coming weeks.