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A stock selloff by Mattel executives in the wake of the blockbuster “Barbie” film has raised eyebrows and “red flags” among some Wall Street watchers.

The stock sales, while perfectly legal experts stressed, may mean Mattel’s brass believe the pink tide that lifted the company’s value has crested, according to VerityData, an investment research firm that tracks insider buying, selling and buyback activity.

When we see insiders selling aggressively into the the rise of the stock it raises red flags about the sustainability of this stocks valuation, Ben Silverman, director of research for VerityData, told The Post.

Mattel’s stock is up about 21% this year, fueled by the buzz around “Barbie,” which was released July 21 and has since grossed more than $1 billion.

Five senior Mattel executive sold 275,800 shares over the past 10 days according to government filings. The average sale price of $21.21 netted them about $4.2 million, according to VerityData.

The trades stand out, Silverman said, because Mattel insiders rarely sell their shares.

Since July 31, Mattel officers have dumped more shares than the 248,000 sold by insiders in the previous 9.5 years, Silverman said.

Three of the Mattel executives were first-time sellers, including head of human resources, Amanda Thompson, who joined the company  in 2017, Jonathan Anschell, who has been the companys legal counsel since 2021 and Yoon Hugh, the companys controller since 2019, VerityData found.

The others include Steve Totzke, president and chief commercial officer, and Roberto Isaias, Mattel’s chief supply chain officer, according to the firm.

All the trades were made days after the company reported its financial results on July 26, avoiding any legal impropriety but not scrutiny.

Seeing five executives trading all at once, raises questions, said Thomas Gorman, a former SEC official and current partner in law firm Dorsey & Whitney. You dont usually see that kind of a pattern coming out of a sophisticated company like Mattel.

The selloff could suggests that the pop in Mattels stock may not be sustainable, according to VerityData.

We are telling our clients that insiders are sending a message that the stock is over-valued, Silverman said.

Even before the movie was released, Wall Street experts questioned Barbie’s halo effect on the Segundo, Calif-based toy giant.

“We worry somewhat about Mattel’s long-term management of Barbie’s positioning,” wrote DA Davidson analyst Linda Bolton Weiser in a July 17 note, recalling a period 10 years ago when moms were “anti-Barbie.”

The trades by the insiders also come after longtime Mattel chief operating officer Richard Dickson known as the Barbie whisperer quit the company to take over struggling retailer Gap. 

Mattel declined to comment.

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UK content creators demand formal recognition from the government

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UK content creators demand formal recognition from the government

The UK’s YouTubers, TikTok creators and Instagram influencers have been surveyed on mass for the first time ever, and are demanding formal recognition from the government.

The creator economy in the UK is thought to employ around 45,000 people and contribute over £2bn to the country in one year alone, according to the new research by YouTube and Public First.

But, despite all that value, its workers say they feel underappreciated by the authorities.

Max Klyemenko, famous for his Career Ladder videos, wants the government to take creators like himself more seriously. Pic: Youtube
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Max Klyemenko, famous for his Career Ladder videos, wants the government to take creators like himself more seriously. Pic: Youtube

“If you look at the viewership, our channel is not too different from a big media company,” said Max Klymenko, a content creator with more than 10 million subscribers and half a billion monthly views on average.

“If you look at the relevancy, especially among young audiences, I will say that we are more relevant. That said, we don’t really get the same treatment,” he told Sky News.

Fifty-six per cent of the more than 10,000 creators surveyed said they do not think UK creators have a “voice in shaping government policies” that affect them.

Only 7% think they get enough support to access finance, while just 17% think there is enough training and skills development here in the UK.

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Nearly half think their value is not recognised by the broader creative industry.

The creative industries minister, Sir Chris Bryant, said the government “firmly recognises the integral role that creators play” in the UK’s creative industries and the fact that they help “to drive billions into the economy” and support more than 45,000 jobs.

“We understand more can be done to help creators reach their full potential, which is why we are backing them through our new Creative Industries Sector Plan,” he said.

Ben Woods said the government needs to "broaden its lens" to include creators
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Ben Woods said the government needs to “broaden its lens” to include creators

“The UK has got a fantastic history of supporting the creative industries,” said Ben Woods, a creator economy analyst, Midia Research who was not involved in the report.

“Whether you look at the film side, lots of blockbuster films are being shot here, or television, which is making waves on the global stage.

“But perhaps the government needs to broaden that lens a little bit to look at just what’s going on within the creator economy as well, because it is highly valuable, it’s where younger audiences are spending a lot of their time and [the UK is] really good at it.”

Read more from Sky News:
Trump says ‘very wealthy group’ has agreed to buy TikTok in US
Major porn sites to introduce ‘robust’ age verification in UK

According to YouTube, formal recognition would mean creators are factored into official economic impact data reporting, are represented on government creative bodies, and receive creator-specific guidance from HMRC on taxes and finances.

For some, financial guidance and clarity would be invaluable; the ‘creator’ job title seems to cause problems when applying for mortgages or bank loans.

Podcaster David Brown owns a recording studio for creators
Image:
Podcaster David Brown owns a recording studio for creators

“It’s really difficult as a freelancer to get things like mortgages and bank accounts and credit and those types of things,” said podcaster David Brown, who owns a recording studio for creators.

“A lot of people make very good money doing it,” he told Sky News.

“They’re very well supported. They have a lot of cash flow, and they are successful at doing that job. It’s just the way society and banking and everything is set up. It makes it really difficult.”

The creative industries minister said he is committed to appointing a creative freelance champion and increasing support from the British Business Bank in order to “help creators thrive and drive even more growth in the sector”.

The government has already pledged to boost the UK’s creative industries, launching a plan to make the UK the number one destination for creative investment and promising an extra £14bn to the sector by 2035.

These influencers want to make sure they are recognised as part of that.

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Politics

Arizona governor vetoes bill to stockpile seized crypto

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Arizona governor vetoes bill to stockpile seized crypto

Arizona governor vetoes bill to stockpile seized crypto

Arizona Governor Katie Hobbs has vetoed a measure that would have created a fund from seized crypto, with proceeds split between law enforcement and the state.

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Politics

New York AG urges Congress to bolster protections in crypto bills

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New York AG urges Congress to bolster protections in crypto bills

New York AG urges Congress to bolster protections in crypto bills

Letitia James argues that federal stablecoin bills should stipulate that issuers be regulated like banks and that they have FDIC insurance requirements to prevent systemic financial risks.

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