Good morning and happy Sunday!

The market’s May rally hit a speed bump last week. Despite strong earnings from names like Nvidia, economic jitters returned to center stage. Weak consumer spending data, rising unemployment claims, and renewed trade war turmoil spooked investors — just as the S&P 500 looked ready to take flight.

In other words, uncertainty stirred again, and so did insiders. A Florida congressman made a discreet biotech exit, Snowflake’s CFO rang the register in a big way, and one private wealth firm decided now is the time to cool off on Nvidia.

Here’s how it all went down.

P.S. This newsletter was drafted Friday. Want these trade alerts as they happen? Join Elite Insider here.

🧬 Byron Donalds Bows Out of Regeneron

On May 26, 2025, Representative Byron Donalds (R-FL) disclosed the sale of Regeneron Pharmaceuticals Inc. $REGN ( ▲ 0.88% )  stock valued between $1,001 and $15,000. The transaction at a price of $546.39 per share.

It’s a small trade, but the timing tells a bigger story. Regeneron has been on a rough slide this year as investor enthusiasm for biotech fades under pressure from tighter FDA scrutiny, weaker drug pricing outlooks, and broader market risk-off sentiment.

For Donalds, this looks like a tactical move to cut losses or rebalance away from a struggling name in a high-volatility sector. With the Fed holding firm and the broader market facing economic headwinds, dumping a slumping biotech might have simply seemed like the most sensible play.

❄️ Snowflake CFO Makes It Rain

On May 27, 2025, Michael Scarpelli, Chief Financial Officer of Snowflake Inc. $SNOW ( ▼ 0.72% ) , disclosed a massive sale of 400,000 shares at an average price of $205.36, raking in roughly $82.1 million.

This move comes right as Snowflake has rebounded sharply from its spring lows. The stock has surged nearly 30% year-to-date, powered by renewed AI enthusiasm and confidence in its data cloud platform’s long-term runway.

So what’s behind the CFO’s timing? Impossible to say for sure. After a run like that, cashing out some chips is par for the course. But an $82 million payday? That’s not exactly subtle. Wall Street will be watching closely to determine whether this marks a temporary cooling — or if insiders see limited upside from here.

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🤖 Nvidia’s Glow Dims for Turn8

On May 27, 2025, Turn8 Private Wealth Inc. disclosed a reduction in its position in Nvidia Corp. $NVDA ( ▲ 1.8% ) , trimming its stake to 30,193.

Even with Nvidia powering the AI narrative, this move isn’t entirely shocking. After an explosive run, some institutional investors are now tapping the brakes. Add to that a new round of earnings that were better-than-expected but not-quite-good-enough — not to mention ongoing trade, inflationary, and interest rate concerns — and you’ve got a recipe for short-term caution.

Turn8 might still be bullish long-term, but this smacks of a classic profit-taking play. When a stock doubles in less than a year, even the biggest believers can be forgiven for shaving a little off the top.