Insider Cluster (2 insiders) ·Filed Apr 22, 2026
Insider cluster: 2 insiders, $95K total
Actionable Insight • Neutral
Monitor for follow-up filings — while this level of director selling is routine, sustained outflows could signal waning confidence. Given the OTC listing and small cap size, even modest insider moves can presage volatility.
Final — all horizons settled through T+60d
NLST ▲ +16.97% at T+60d
NEUTRAL call ✓ call won +16.97% · α vs SPY +12.20% · entry $2.18 → $2.55
T+1d
0.00%
call 0.00% · α +0.49%
$2.18
settled 5mo ago
T+5d
+25.69%
call +25.69% · α +25.29%
$2.74
settled 5mo ago
T+20d
+36.70%
call +36.70% · α +31.74%
$2.98
settled 4mo ago
T+60d
+16.97%
call +16.97% · α +12.20%
$2.55
settled 2mo ago
Price Chart
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Executive Summary
Two Netlist directors, Welch Blake and Cho Jun, sold shares in a coordinated cluster totaling $95K over a 7-day window, with all transactions being open-market sales. This represents modest insider selling from non-executive board members.
Key Financial Metrics
Direction
selling
Total Value
$94.8K
Insiders
2
Key Facts
- Director Welch Blake sold 37,500 shares at $2.00 for $75,000 on 2026-04-22
- Director Cho Jun sold 10,000 shares at $1.98 for $19,800 on 2026-04-22
- All transactions were open-market sales (Form 4 'S' code), not related to options or tax events
- Total cluster value: $94,800 across two insiders within 7 days
Financial Impact
$94.8K in total open-market sales by two directors
insider ownershipmarket sentiment
Risk Factors
- Potential perception of lack of confidence from board members
- Low liquidity on OTC exchange may amplify price impact if selling continues
Market Snapshot
Exchange
OTC
Sector
Semiconductors & Related Devices
Analyst Consensus
86% bullish (7 analysts)
Investment Themes
Semiconductors
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-NLST-1777080650989 |
7 reports for NLST
75% Hit rate best @ T+20▲ +27.16%
Filters
Rows
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 8w ago | 8-K | $4.05 $5.15 | ▲ +27.16% | ▲ +27.76% | $5.67 (+40.00%) |
Jul 30, 2026 9w ago | 8-K | $2.38 $6.09 | ▲ +155.88% | ▲ +151.92% | $5.67 (+138.24%) |
May 12, 2026 20w ago | 8-K | $3.02 $2.58 | ▼ −14.57% | ▼ −12.84% | $5.67 (+87.75%) |
Apr 22, 2026 23w ago | 144 | $2.10 $2.50 | ▲ +19.05% | ▲ +15.88% | $5.67 (+170.00%) |
Apr 22, 2026 23w ago | Insider Cluster | $2.18 $2.98 | ▲ +36.70% | ▲ +31.74% | $5.67 (+160.09%) |
Mar 16, 2026 28w ago | Insider Cluster | $1.63 $1.78 | ▼ −9.20% | ▼ −1.58% | $5.67 (−247.85%) |
Mar 16, 2026 28w ago | Insider Cluster | $1.60 $1.71 | ▼ −6.88% | ▼ −2.57% | $5.67 (−254.38%) |
Showing 7 of 7
US Market Status
Market Closed — Opens Mon (39h 30m)
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