Insider Buying Spikes Amidst US Stock Market Decline

Despite a recent slump in the U.S. stock market, corporate insiders have been actively increasing their stakes in publicly traded companies. Over the past month, insider trading activity has reached its highest point since May, according to Odaily reports. This buying spree comes amidst growing concern over an artificial intelligence bubble, prompting investors to shift away from previously favoured tech stocks towards more stable sectors like utilities and consumer staples. This trend of insider confidence offers a ray of hope for those bullish on the market, as the S&P 500 index experienced a significant downturn, falling by 3.1% over the past week, heading toward its worst month since April.