As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Tuesday, Inotiv's Chief Operating Officer, RMS, James Harkness, made a $765,637 buy of NOTV, purchasing 38,968 shares at a cost of $19.65 each. Harkness was up about 16.9% on the buy at the high point of today's trading session, with NOTV trading as high as $22.97 in trading on Thursday. Inotiv is trading up about 0.6% on the day Thursday.
And on Wednesday, Chief Executive Officer Ric Fulop bought $525,231 worth of Desktop Metal, buying 128,850 shares at a cost of $4.08 each. This buy marks the first one filed by Fulop in the past year. Desktop Metal is trading up about 4.1% on the day Thursday. So far Fulop is in the green, up about 13.3% on their buy based on today's trading high of $4.62.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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