 ## Insiders Are Buying: Breakdown of the Largest Purchases on May 15 While the market debates a recession, insiders are voting with their money. Yesterday's OpenInsider report showed abnormal activity by top management in several companies at once. I break down the most interesting moves. Top 3 deals of the day: 1. **Genedx Holdings (WGS)** — $13.7 million Director Keith A. Meister purchased 351,000 shares at $39.19. This is a +7% increase to his stake. The company is involved in genetic testing — a sector currently at the intersection of biotech and AI diagnostics. The amount is impressive even for an insider purchase. 2. **Pulse Biosciences (PLSE)** — $12.9 million Robert W. Duggan (director, 10% owner) bought 660,000 shares at $19.69. Medical technology — the field of nano-pulse stimulation of cells. He added only +1% to his stake, but the check itself speaks to long-term confidence. 3. **On Holding AG (ONON)** — $6.6 million (total) This is truly a rare signal: three top managers simultaneously — Co-CEO Caspar Coppetti, Co-CEO David Allemann, and Exec Officer Olivier Bernhard — each bought 60,000 shares at $36.64. Such a coincidence is not random. The Swiss sneaker manufacturer (On Running) continues to grow. What else is notable: • **Alpha Metallurgical Resources (AMR)** — director bought $2.8 million at $189. Coal metallurgy — a bet on the commodity cycle. • **Nomad Foods (NOMD)** — purchase of $912k, +20% to insider stake. Frozen foods — a defensive asset. • **Valvoline (VVV)** — CFO bought $318k, +42% to his stake. Auto service — a bet on consumer demand. My position: The triple purchase in ONON is the strongest signal. When Co-CEOs and founders synchronously increase their position, it speaks louder than any analytical reports. Genedx is an interesting biotech case with an AI component. And purchases in commodities (AMR, TXO) hint that insiders expect an inflationary scenario. Data is information. Decisions are yours. #InsiderTrading #Investments #Analytics #ONON #WGS #PLSE