Corporate insiders have offloaded a massive volume of shares to the tune of tens of billions of dollars in the first six months of the year.
Corporate insiders dumped a total of $77.6 billion in the first half of the year, representing a 20% increase from the same period in 2025, reports The Kobeissi Letter.
This figure ranks as the second-largest in over two decades.
Insider selling outpaced buying by an 11-to-1 ratio, totaling just $6.9 billion over the same period, amid concerns over valuations, geopolitical factors and the sustainability of the massive AI spending.
Say The Kobeissi Letter,
“Corporate insiders are locking in historic gains.”
Despite the massive corporate insider selling, The Kobeissi Letter says Big Tech’s market dominance remains undisputed, as the Technology, Media, and Telecom (TMT) sector now accounts for a record 49% of the S&P 500’s market value.
“This is ~9 percentage points above the 2000 Dot-Com Bubble peak and ~20 percentage points above the late-1960s high.
The tech sector now carries a larger weight than the financials, cyclicals, and defensives sectors combined.
By comparison, TMT accounted for just ~19% of the S&P 500 during the 2008 Financial Crisis.
The US stock market has never been this reliant on tech.”
As of Friday’s close, the S&P 500 is trading at 7,457.
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