Insider buying can be an encouraging signal for potential investors, especially when markets are near all-time highs.
Special purpose acquisition companies attracted some notable insider buying las week.
A prominent hedge fund manager and two chief executive officers stepped up to the buy window.
Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason -- they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when there is uncertainty in the markets or the markets are near all-time highs.
Note that a new earnings-reporting season has begun and many insiders are prohibited from buying or selling shares. Here are some of the most noteworthy insider purchases that were reported in the past week.
A Rodgers Silicon Valley Acquisition Corp. (NASDAQ: RSVA) beneficial owner purchased more than 2.14 million shares as the special purpose acquisition company (SPAC) completed its merger with Enovix, a battery maker. At a price of $14.00 apiece, the cost of those shares totaled just shy of $30.00 million. Note that the stock closed the week at $20.36 per share.
In the latest of a number of purchases stretching back to late May, a Cricut Inc (NASDAQ: CRCT) 10% owner picked up over 364,200 more shares at prices ranging from ...
Related tickers: HIBB, IVAN, SIVB, CAG, GBX, S, DRTT, IMRA, RSVA, CRCT.
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