The Dow Jones closed higher by around 200 points on Thursday. 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
Ideanomics
- The Trade: Ideanomics, Inc. (NASDAQ: IDEX) CEO Alfred Poor bought a total of 400,000 shares at an average price of $0.25. To acquire these shares, it cost around $100 thousand.
- What’s Happening: Ideanomics reported spin-out of its JUSTLY and Timios subsidiaries.
- What Ideanomics Does: Ideanomics Inc is a Global company that facilitates the adoption of commercial electric vehicles and supports next-generation financial services and Fintech products.
Star Equity Holdings
- The Trade: Star Equity Holdings, Inc. (NASDAQ: STRR) Executive Chairman Jeffrey E Eberwein acquired a total of 19,450 shares at an average price of $1.01. The insider spent around $19.55 thousand to buy those shares.
- What’s Happening: The company, during August, posted downbeat quarterly earnings.
- What Star Equity Holdings Does: Star Equity Holdings Inc is a diversified holding company with three divisions: Healthcare, Construction, and Investments. Healthcare division, which operates as "Digirad Health" and provides products and services in the area of nuclear medical imaging with a focus on cardiac health.
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Applied Blockchain
- The Trade: Applied Blockchain, Inc. (NASDAQ: APLD) CEO, Chairman Wes Cummins Frank Igwealor acquired a total of 20,000 shares at an average price of $2.22. To acquire these shares, it cost around $44.4 thousand.
- What’s Happening: The company recently posted upbeat quarterly results.
- What Applied Blockchain Does: Applied Blockchain Inc is an Ethereum and altcoin mining company.