Southern Company (SO)

Shares of Southern Company (SO) dropped by 2.09% from $67.10 to $65.70 in the trading on Thursday, October 12, 2023. The reason why SO is down today is due to insider selling activity within the company. On October 10, 2023, Southern Nuclear CEO Stephen Kuczynski sold 5,000 shares of Southern Co (NYSE:SO). Over the past year, Kuczynski has been involved in multiple insider transactions, selling a total of 64,046 shares without making any share purchases. Investors and analysts have taken note of this insider selling, especially as it occurred while Southern Co's stock was trading at $66 per share, giving the company a market cap of $73.19 billion. The stock's relatively high price-earnings ratio of 23.79, compared to industry and historical medians, may have contributed to investor concerns, potentially leading to the stock price decline.