The Nasdaq 100 gained by more than 100 points on Wednesday. Investors, meanwhile, focused on some notable insider trades.
When insiders purchase or sell shares, it indicates their confidence or concern around the company’s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga’s insider transactions platform.3
- The Trade: RocketFuel Blockchain, Inc. RKFL Chairman Gert Funk bought a total of 40,000 shares at an average price of $0.25. To acquire these shares, it cost around $9.97 thousand.
- What’s Happening: The company recently announced its partnership with merchant services provider PaymentCloud.
- What RocketFuel Blockchain Does: RocketFuel Blockchain Inc is a development-stage company that is in the process of developing check-out systems based upon blockchain technology and designed to increase speed, security, and ease of use.
- The Trade: SAB Biotherapeutics, Inc. SABS Director Christine Hamilton href=”https://www.benzinga.com/sec/insider-trades/”> acquired a total of 10,000 shares at an average price of $0.73. The insider spent around $7.3 thousand to buy those shares.
- What’s Happening: SAB Biotherapeutics, last month, posted a Q2 loss of $0.11 per share.
- What SAB Biotherapeutics Does: SAB Biotherapeutics Inc is a clinical-stage biopharmaceutical company advancing a class of immunotherapies based on its human polyclonal antibodies.