Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Wednesday, Aligos Therapeutics', Carole Nuechterlein, made a $6.00M purchase of ALGS, buying 7,933,601 shares at a cost of $0.76 a piece. Investors have the opportunity to pick up ALGS even cheaper than Nuechterlein did, with shares trading as low as $0.68 in trading on Monday -- that's 9.6% under Nuechterlein's purchase price. Aligos Therapeutics is trading up about 13.2% on the day Monday.
And on Friday, Marcus Lemonis bought $595,933 worth of Overstock.com, buying 40,293 shares at a cost of $14.79 each. Before this latest buy, Lemonis bought OSTK at 3 other times during the past twelve months, for a total investment of $1.73M at an average of $16.14 per share. Overstock.com is trading up about 2.4% on the day Monday.
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