Sivers Semiconductors ($SIVE) up 200%+ and insiders selling - is this the top?

Sivers has been one of the standout performers in Swedish small-caps this year (up over 200%). It was on my watchlist but I wasn't on the train. The move has been built on improving sentiment around the company's semiconductor and photonics positioning, satellite connectivity exposure, and a series of product demonstrations that gave bulls something concrete to point to.

There has been some very interesting development recently with two large shareholders offloading significant shares, including a board-adjacent insider, with in total more than 10% of shares sold.

Thus, after a 200%+ run, people close to the business just sold near the highs. Insiders can be wrong, but this might well mark the top.

For now, it stays on my watchlist. The business is genuinely interesting, but after a 200%+ run I'm not chasing it. If the insider selling marks a sentiment shift and the stock comes back to earth, that's when this gets interesting 🧐