Stock Trading Canary
| Period | Completed events | Price coverage | Hit rate | Median excess return | Average excess return | Worst excess return |
|---|---|---|---|---|---|---|
| 5D | 2Small sample | 100.0% (2/2) | 100.0% (2/2) | +5.9% | +5.9% | +1.7% |
| 20D | 2Small sample | 100.0% (2/2) | 50.0% (1/2) | +4.5% | +4.5% | -8.7% |
| 60D | 2Small sample | 100.0% (2/2) | 50.0% (1/2) | -3.5% | -3.5% | -17.0% |
| 120D | 2Small sample | 100.0% (2/2) | 50.0% (1/2) | -1.2% | -1.2% | -18.2% |
COMPANY RESEARCH
CDON AB
CDON.ST · Sweden · Consumer Cyclical · Internet Retail
Insider Signal
Snapshot: 05 Nov 2026 · 180-day research window
- Insider Signal
- 51.8 / 100 Research score, not a buy recommendation
- Reported buyers
- 2 180-day scoring window
- Net purchases
- 17.5k EUR 180 days · purchases less sales
- Latest disclosure
- 2026-11-05 Publication date
What stands out
- 2 reported buyers participated in qualifying purchases during the last 180 days.
- Fredrik Norberg accounts for 90% of comparable reported purchase value; buyer breadth and value are different measures.
- The share price fell 33.3% over 180 days; inspect disclosure dates before interpreting the purchases.
Price vs insider buying
CDON.ST · SEK● Purchase × Sale ◇ Public disclosure ▥ 15-day cluster ·
Circles and crosses mark trade dates; diamonds below the axis mark later public disclosures. The trade became public on its disclosure date. Prices are nearest-session closes, not insider execution prices. Marker sizes are not compared when values or currencies differ.
BULL VS BEAR
Two readings of this buying
The same filings, read two ways. Each line is a fact stored for this company with the number behind it, and appears only when that number crosses a fixed threshold. Neither side is a forecast and no winner is declared.
All bull and bear lists, and what followed each line in the past →
Where the evidence comes from
The two kinds of evidence disagree: the purchases themselves carry bull lines (more buyers than usual here, large purchases, bought in the last two weeks), while share price and trading argue against (price down over six months); company results argue against (loss-making). No data is held for: company actions.
- The insider purchases themselvesBullmore buyers than usual here, large purchases, bought in the last two weeks Bearvalue concentrated in one buyer, associated persons buying, insiders also sold1 checked, under the threshold · 3 missing
- Share price and tradingBearprice down over six months1 checked, under the threshold
- Short sellers1 checked, under the threshold
- Company resultsBearloss-making1 missing
- Company actionsno data held
Bull case · the buying is informative
- No insider bought in the 180 days before this window; 2 have bought in it. The buying is new for this company, not a habit.Record: after 3,282 earlier disclosures like this, the median 60-session excess return was −2.5%, within 1 percentage point of all comparable disclosures (−2.7%).
- Insider purchases in the last 20 sessions equal 83% of everything traded in the stock over those sessions.
- The latest purchase is 2 days old (2026-11-03). The buying is current, not left over from an earlier quarter.
Bear case · discount it
- Fredrik Norberg accounts for 90% of the value bought. The other 1 buyer adds names more than money.Record: after 3,525 earlier disclosures like this, the median 60-session excess return was −3.4%, within 1 percentage point of all comparable disclosures (−3.5%).
- Every buyer is filed as a person closely associated with a manager (family or a holding vehicle), not the manager. This model weights such filers among the least informative.Record: after 1,680 earlier disclosures like this, the median 60-session excess return was −8.0%, 2.1 percentage points below all comparable disclosures (−5.9%).
- Insiders also sold €152k in the same 180 days, 90% of the amount bought.
- Company resultsThe company is loss-making on the latest captured figures: profit margin −18%, return on equity −16%.
- Share price and tradingThe share price is down 33% over six months (three months −15%, one month +9.8%) and stands 42% below its 52-week high. Insiders have bought into a fall the market has not reversed.Record (nearest stored case: price 20% or more below its prior 52-week high): after 11,069 earlier disclosures like this, the median 60-session excess return was −3.1%, within 1 percentage point of all comparable disclosures (−2.6%).
Evidence still missing
- No buyer here has 5 or more completed earlier purchases on record, so there is no track record to weigh.
- Only one reading of profitability is held (profit margin −18%). Whether earnings and cash flow are rising or falling needs the last two reports side by side.
- European notifications have no field saying whether a purchase was pre-arranged; there is no counterpart to the US 10b5-1 box. None of the 4 purchase lines mentions a plan, but a bare “Förvärv” does not rule one out.
- The filings give the size of each trade, not what the buyer already held. Whether a purchase added 1% to a personal stake or doubled it is not known.
Checked and under the threshold: 3, 1 close to it
- BullAt most 2 insiders bought within any 15 days. Counted for the bull side from 3. close to the threshold
- BearOver three months the share price changed −15% and the median of 349 Consumer Cyclical companies changed −2.5%: behind by 12 points. Counted for the bear side from 20 points behind.
- BearThe register of Finansinspektionen shows no published net short position in this company. Positions under 0.5% are never published, so this does not show that nobody is short.
Both columns arrange stored facts only. They do not change the insider score or the ranking and are not investment advice.
Who is trading?
Named filings in 180 days. Purchase values are summed only when complete and in one currency.
| Insider | Transaction activity | Purchase value | Latest trade | Details | ||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fredrik NorbergCEO / chair | 3 buy · 0 sell | 2.04m SEK | 2026-11-03 | View transactions · 4
| ||||||||||||||||||||||||||||||||||||||||
| David HathawayCEO / chair | 1 buy · 0 sell | 226.5k SEK | 2026-10-22 | View transactions · 1
| ||||||||||||||||||||||||||||||||||||||||
| Mikaela WillmanBoard member | 0 buy · 1 sell | No purchases | 2026-09-01 | View transactions · 1
| ||||||||||||||||||||||||||||||||||||||||
| Niklas ÖhmanBoard member | 0 buy · 3 sell | No purchases | 2026-06-12 | View transactions · 4
|
INSIDER SIGNAL
Score breakdown：51.8 / 100
2 insiders · 3 purchase events · €17k net purchases
Europe #557 · Sweden #146
WHY THIS SIGNAL?
Score anatomy
Each bar is that part's points in the score; the five parts add up to the score.
Number of buyers+21.0 / 35
How many different insiders bought within 15 days
Amount bought+15.8 / 25
The value bought, net of any insider sales
Buyers' roles+1.0 / 20
Lower in the company scores higher: in the backtest, purchases by the most senior insiders did worse
How recent+8.7 / 10
How long ago the latest purchase took place
Buying against selling+5.3 / 10
Lower when insiders also sold
What is holding the score back?
- ⚠ Few buyers · fewer than 4 different insiders
- ⚠ Buyers' roles add little · most senior buyer: Associated person; the most senior score lowest
- ⚠ Insiders also sold, which lowers this part
- ✓ Recent buying · latest purchase 2026-11-03
Buyers' roles follow the European ranking's order of roles: the most senior insiders score lowest.
Buying concentration
90%
Largest buyer：Fredrik Norberg · 2.04m SEK
Purchases counted, before sales：2.27m SEK
The amount at the top of the page is purchases minus sales; this one counts purchases only, in the filing currency, so the two can differ. The score counts how many people bought; this shows separately who bought the most.
This is a ranking under the current European screening rules—not a probability of gain, return forecast, or buy recommendation.
Key purchase quotes (filing currency)
| Filer | Price per unit | Trade date |
|---|---|---|
| Fredrik Norberg | 47.020425 SEK | Nov 3, 2026 |
| Fredrik Norberg | 47.5–49 SEK | Nov 2, 2026 |
| David Hathaway | 44.5858 SEK | Oct 22, 2026 |
Model details
Cluster breakdown (does not change the score)
- 15-day buyer breadth (count)
- 2 distinct reported filers
- Peak time window
- 2026-10-22 to 2026-11-03
- Current breadth input
- 0.600 (capped at 4+ buyers)
- Buyer independence
- Not yet measured; related-party fields are not cross-market comparable
What the filings show
- 🟢 Latest purchase counted
Fredrik Norberg · 1.03m SEK · Price 47.020425 SEK · Nov 3, 2026 - 🟢 Purchase counted
Fredrik Norberg · 1.00m SEK · Price 47.5–49 SEK · Nov 2, 2026 - 🟢 Large purchase counted
David Hathaway · 227k SEK · Price 44.5858 SEK · Oct 22, 2026 - 🔴 6 other line(s) are not counted, as they are not purchases the insider chose to make; 0 have a price of zero
Filing and data quality
These checks are auditable context; they do not change the rank or score.
- Identity match
- PASS · isin
- Ticker / ISIN
- Present
- Filing source links
- 0 / 10
- Median disclosure lag
- 2 days
- Latest disclosure age
- 0 days at snapshot
- Corrections / revisions
- 0
- Score-factor detail
- Saved
Insider timeline
2 insiders bought within 13 days, 22 Oct to 3 Nov: 2 CEO / chair. The share closed at 48.70 on the first of those days and at 46.00 most recently (−5.5%). That week 164 companies across Europe disclosed insider purchases, an ordinary week (22 of the last 26).
Tap an item for what it means.
●A purchase: the bigger the dot, the more was bought
Each dot is one insider's purchases on one day. The dot's area follows the amount: the largest purchase here gets the largest dot. Hold the pointer over a dot to see the date and the amount.
×A sale
A cross is one insider's sales on one day. People sell to pay tax, to cash in share awards or to hold less of one company, so a sale says less than a purchase does. When someone bought and sold on the same day, the cross sits beside the dot. The totals are under “Purchases against sales” below.
▮Purple band: several insiders bought within 15 days
The band marks the stretch with the most different buyers: at most 15 days long and at least two people. Here it is 22 Oct – 3 Nov, with 2 insiders. Only the strongest stretch is marked. Several people deciding the same thing is harder to explain by one person's private reasons, but insiders often buy together just after a closed period ends, so compare it with the grey weekly bars.
Blue line: this share's price, −33.3% over these six months
The closing price of each day, from 69.00 on 2026-05-11 to 46.00 on 2026-11-04. The line has no scale; read it for high and low: a dot on a low stretch was bought cheaply, a dot on a high stretch was not.
Dashed line: the typical stock on the same exchange, −6.5%
Taken from the 738 other stocks on the same exchange that this site holds prices for. Each is measured from the first day of the window, and every day the middle one is drawn. It starts where the blue line starts, so the gap between the two is the difference: this share −33.3%, the typical one −6.5%, 26.9 points behind. It is not an index and not a comparison within one industry.
▂Grey bars: companies across Europe disclosing purchases each week
A taller bar is a week in which more companies disclosed insider purchases. The purple bar is the week of the band above: 164 companies, number 22 of the last 26 weeks. If that week was a peak anyway, buying together is less special than it looks.
This company: insiders buying per month, last 12 months
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
1Oct
1Nov
Darker bars are inside the 180-day window above.
Who traded
| Insider | Role | Purchases | Sales | Bought | First purchase | Share price since | Earlier purchases |
|---|---|---|---|---|---|---|---|
| David Hathaway | CEO / chair | 1 | — | 226.5k SEK | 2026-10-22 | −5.5% | fewer than 5 completed |
| Fredrik Norberg | CEO / chair | 2 | — | 2.0M SEK | 2026-11-02 | −4.2% | fewer than 5 completed |
| Niklas Öhman | Board member | — | 3 | — | — | — | fewer than 5 completed |
| Mikaela Willman | Board member | — | 1 | — | — | — | fewer than 5 completed |
Purchases against sales
Purchases58%2.3M SEK · 4 line(s) · 2 insider(s)
Sales42%1.7M SEK · 4 line(s) · 2 insider(s)
Shares of the reported value of insider transactions in the 180-day window. Sales include disposals for tax, at option exercise or under a pre-set plan, which say little about an insider's view. The split describes what was disclosed; it is not a signal.
Insiders' buying price vs the latest close
Insiders paid 46.98 SEK a share on average (4 purchase lines, 2 buyers, 2026-10-22 – 2026-11-03). The close on 2026-11-04 was 2.1% below that price.
The latest purchase (2026-11-03) was at 47.02 SEK; the close was 2.2% below that price.
Prices paid are weighted by shares and taken from the filings; dividends are not counted. Not scored.
Buying size vs market trading
83.04% · of estimated traded value in the same period
2026-10-08 – 2026-11-04 · 20 recorded trading sessions
- Disclosed qualifying purchases
- 2,265,716 SEK
- Estimated market traded value
- 2,728,338 SEK
Market-data coverage: 515 verified sessions · Latest session: 2026-11-04 · Ratio status: Available
Recent and largest purchase events / preceding 60-session ADTV
- Nov 03 · Fredrik Norberg · Verkställande direktör (VD)1,034,449 SEK · 1524.70%67,846 SEK ADTV
- Nov 02 · Fredrik Norberg · Verkställande direktör (VD)1,004,726 SEK · 1973.69%50,906 SEK ADTV
- Oct 22 · David Hathaway · Styrelseordförande226,540 SEK · 496.05%45,669 SEK ADTV
Traded value is estimated as close × shares traded, in major currency units. Includes disclosed qualifying purchases; disclosures may lag. Contractual or planned acquisitions are not necessarily discretionary. Ratios describe relative trading size, not market participation or score contributions.
Sector context
- Buying breadth
- 8.2% (41 / 503 issuers)
- Sector rank
- #7 / 12
- 7D breadth change
- -0.6 pp · vs 2026-10-29 (7d)
- 30D breadth change
- -3.7 pp · vs 2026-10-06 (30d)
This is sector-level research context. It does not affect the Insider Signal or ranking.
Insider profile outcomes
Historical performance following insider filings. The company role is translated below each name while preserving the original title.
- Excess return = stock return − OMX Stockholm 30 return over the same period.
- Hit rate = completed events with positive excess return ÷ total completed events.
- Price coverage = valid point-in-time prices ÷ events mature enough for that period.
- Returns start on the first shared trading session on or after publication.
- Small-sample rule: n<5 is shown for transparency and is not scored.
Events are disclosure-level observations; related disclosures published on the same date may share a return path and may not be statistically independent. This research enrichment does not affect the insider score or ranking.
| Period | Completed events | Price coverage | Hit rate | Median excess return | Average excess return | Worst excess return |
|---|---|---|---|---|---|---|
| 5D | 2Small sample | 100.0% (2/2) | 100.0% (2/2) | +33.4% | +33.4% | +3.8% |
| 20D | 2Small sample | 100.0% (2/2) | 100.0% (2/2) | +19.5% | +19.5% | +0.5% |
| 60D | 2Small sample | 100.0% (2/2) | 50.0% (1/2) | +21.8% | +21.8% | -28.2% |
| 120D | 2Small sample | 100.0% (2/2) | 50.0% (1/2) | -10.0% | -10.0% | -46.2% |
| Period | Completed events | Price coverage | Hit rate | Median excess return | Average excess return | Worst excess return |
|---|---|---|---|---|---|---|
| 5D | 1Small sample | 100.0% (1/1) | 0.0% (0/1) | -4.3% | -4.3% | -4.3% |
| 20D | 1Small sample | 100.0% (1/1) | 0.0% (0/1) | -6.6% | -6.6% | -6.6% |
| 60D | 1Small sample | 100.0% (1/1) | 100.0% (1/1) | +13.3% | +13.3% | +13.3% |
| 120D | 1Small sample | 100.0% (1/1) | 0.0% (0/1) | -5.8% | -5.8% | -5.8% |
Market context
PRICE PERFORMANCE
VOLATILITY & LIQUIDITY
- Volatility
- 61.6%
- Beta
- 0.86
- Avg daily volume
- SEK 76,084.0
- 20-session drawdown
- -6.9%
- 60-session drawdown
- -25.7%
- Latest volume / prior median
- 0.0×
VALUATION
- Market cap
- SEK 573.3M
- Market cap (EUR ref.)
- €52.2M
- P/E
- —
FUNDAMENTALS
- Revenue
- —
- Net income
- —
- Operating profit
- —
- Equity
- —
- Cash
- —
- Debt
- —
- Operating cash flow
- —
- Free cash flow
- —
- Profit margin
- -17.6%
- ROE
- -15.6%
- Industry
- Internet Retail
Prices to 06 Nov 2026: OpenBB/yfinance; volume from price cache (yfinance). From OpenBB/yfinance, captured 06 Nov 2026: Market cap, Profit margin, ROE, Beta, Industry. ECB EUR reference rate dated 2026-11-05; it is not a trade-date conversion. It does not affect the insider score or rank.
Disclosed net short positions
The Finansinspektionen register, read 06 Nov 2026, publishes no net short position of 0.5% or more in this issuer. Positions below 0.5% are never published, so this is not evidence that nobody is short.
Short-position disclosures are external context; they do not affect the insider score, ranking, or filing eligibility.
Insiders and institutions
Insiders, ranking window: €17.5k net bought · buyers: 2 · last 2026-11-03
Short sellers
Nothing at or above the publication threshold is on the Finansinspektionen register (read 2026-11-06).
Moves by named holders, last 12 months
No named holder's published position changed in the last 12 months.
Source: Finansinspektionen, read 2026-11-06. Where holders are named, only positions of 0.5% of issued capital or more are published, so these are lower bounds and a change is a change in what was published. Context only; not part of the score. All companies where insiders buy and short sellers hold positions →
Swedish mutual funds
- Held on 2026-06-30
- SEK 230.7k4 funds · 2 fund companies
- Shares held, change on the quarter
- +0.0%since 2026-03-31
- Change on the year
- +0.0%since 2025-06-30
- Fund companies
- 0 added · 0 cut
Largest holders: Storebrand Asset Management AS SEK 202.3k (+0.0%); Skandia Fonder AB SEK 28.4k (+0.0%)
Swedish funds' holding changed little in the quarter.
Source: Finansinspektionen, holdings of Swedish UCITS funds on 2026-06-30, published about three months later; special funds are not published. The direction is read from the number of shares held, so a price move is not counted as buying. The fund quarter and the insiders' purchases (last 2026-11-03) are different periods.
Latest news
News is reader context only; it does not change the score or inclusion.
Regulatory filings
The filing records held for this company carry no link to the original notice.
Search FI register ↗ · Search the Swedish regulator's register by issuer and trade date; this is a register link, not a direct notice URL.
Filing evidence
These are underlying national-feed records from the 365-day window ending on the saved ranking snapshot. The score uses only the latest 180 days; older qualifying equity purchases remain visible for audit but do not enter the current score. The original filer, role, transaction classification, instrument, price, volume, value and source fields are retained. The first three rows are shown; remaining records can be unfolded for audit. Other transaction types are retained but excluded from the score.
Excluded transactions & classification
4 qualifying purchase disclosure(s) · 4 transaction line(s)
Trade Nov 3, 2026Förvärv
Fredrik Norberg · Verkställande direktör (VD)
Published Nov 5, 2026 · Aktie · 22000.0 shares × 47.020425 SEK · —
Search FI registerTrade Nov 2, 2026Förvärv
Fredrik Norberg · Verkställande direktör (VD)
Published Nov 5, 2026 · Aktie · 99.0 shares × 49.00 SEK · —
Search FI registerTrade Nov 2, 2026Förvärv
Fredrik Norberg · Verkställande direktör (VD)
Published Nov 5, 2026 · Aktie · 21050.0 shares × 47.50 SEK · —
Search FI registerUnfold all 1 remaining filing row(s)
| Transaction date | Published | Filer | Role | Transaction | Instrument | Price (local currency) | Quote currency | Volume | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026-10-22 | 2026-10-22 | David Hathaway | Styrelseordförande | Förvärv | Aktie | 44.5858 SEK | SEK | 5081.0 | Search FI register |
Showing 4 of 4 matching raw-feed row(s) from the current 365-day research window. Prices and reported values remain in the filing currency and its major unit (for example, UK pence are parsed as GBP). The screen-level € aggregate is separately FX-normalised for research ranking, not a trade-date conversion.
Other disclosed transactions · excluded from score
View 6 other transaction(s)
Trade Sep 1, 2026Avyttring
Mikaela Willman · Styrelseledamot
Published Sep 4, 2026 · Aktie · 30126.0 shares × 50.0132 SEK · —
Search FI registerTrade Jun 12, 2026Tilldelning
Niklas Öhman · Annan medlem i bolagets administrations-, lednings- eller kontrollorgan
Published Jun 13, 2026 · Teckningsoption · 3370.0 shares × 16.47 SEK · —
Search FI registerTrade Jun 12, 2026Avyttring
Niklas Öhman · Annan medlem i bolagets administrations-, lednings- eller kontrollorgan
Published Jun 13, 2026 · Aktie · 527.0 shares × 65.0 SEK · —
Search FI registerUnfold all 3 remaining filing row(s)
| Transaction date | Published | Filer | Role | Transaction | Instrument | Price (local currency) | Quote currency | Volume | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026-06-12 | 2026-06-12 | Fredrik Norberg | Verkställande direktör (VD) | Tilldelning | Teckningsoption | 16.47 SEK | SEK | 13661.0 | Search FI register |
| 2026-06-11 | 2026-06-13 | Niklas Öhman | Annan medlem i bolagets administrations-, lednings- eller kontrollorgan | Avyttring | Aktie | 66.0 SEK | SEK | 1000.0 | Search FI register |
| 2026-06-10 | 2026-06-13 | Niklas Öhman | Annan medlem i bolagets administrations-, lednings- eller kontrollorgan | Avyttring | Aktie | 67.0 SEK | SEK | 1000.0 | Search FI register |
Showing 6 of 6 matching raw-feed row(s) from the current 365-day research window. Prices and reported values remain in the filing currency and its major unit (for example, UK pence are parsed as GBP). The screen-level € aggregate is separately FX-normalised for research ranking, not a trade-date conversion.
Follow new disclosures
Subscribe to new Europe disclosures. These are market-wide RSS feeds, not company-specific alerts.
Model & Sources
Signal history
51.8 / 100
Latest recorded score
→ +0.0 ptssince the first recorded snapshot on 2026-11-05; 0 calendar days observed
- Recorded snapshots
- 1
- First snapshot
- 2026-11-05
There is not yet a 30-calendar-day comparison; earlier scores are not reconstructed. These are raw signal scores saved when each full scoring run completed. They describe changes in research ranking, not price performance or returns.
Why did it change?
Less than 30 days of comparable history is available, so factor movement is not yet decomposed.
Signal score history
Fixed 0–100 scale; dates are spaced by calendar time.
Recent recorded points
- 51.8
View all recorded scores
| Snapshot date | Signal score |
|---|---|
| 2026-11-05 | 51.8 |
Why this score? · Model details
Priority = 100 × Σ(fixed weight × 0–1 rule-based input)
| Factor | Weight | This company input | Point contribution |
|---|---|---|---|
| 15-day buyer breadth (count) | 35% | 0.600 | 21.0 |
| Qualified-buy size | 25% | 0.633 | 15.8 |
| Role informativeness (inverted) | 20% | 0.050 | 1.0 |
| Recency | 10% | 0.871 | 8.7 |
| Buy/sell conviction | 10% | 0.527 | 5.3 |
This is a heuristic ordering under the current rules, not a calibrated return forecast. It explains why candidates rank differently; the public-filing evidence and data limits are shown below.
Snapshot & identity
- Snapshot date
- 2026-11-05
- Ticker
- CDON.ST
- ISIN
- SE0015191911
- Sector
- Consumer Cyclical
- Industry
- Internet Retail
Company logos by Parqet