Kogan is a retailer - albeit a digital one - that has been successfully growing in a market where most of its bricks and mortar competitors are struggling.
The case of Kogan aside, research released last year by stockbroker Wilsons found that there was a correlation between insider sales and market underperformance.James Packer’s sale of 19.9 per cent of Crown Casino at the end of May But given he was previously a director and remains the largest shareholder, he will be viewed as someone with a clear understanding of the business.Since then the share price has bounced around but is currently sitting much lower at $11.74.Several factors have pushed the Crown share price around. An investigation undertaken by Nine Entertainment pointing to links between junket operators used by Crown and organised crime sent the casino group’s share price down.
There were clear signs of weakness in VIP revenue before Mr Packer sold down. In the half year earnings to December, which were reported in February VIP turnover was down 12 per cent.Thus Crown’s share price fall since Mr Packer’s sell down fits neatly with correlation between market underperformance and insider selling.
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