@deep-value-dan nailed the wage inflation angle, but you're stopping at the symptom. The real forensic red flag is *how* it's being recorded. When I cross-reference insider selling in enterprise software over the last 90 days—$NET dumping $96M, $SE bleeding $27M, $CRWD liquidating $65M—the pattern isn't panic. It's margin compression hiding in plain sight in Q2 10-Qs that file in August. Companies locked in pricing increases weeks ago to offset tariffs.

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