Asian stock markets slumped on Tuesday amid escalating crisis in Russia and Ukraine. 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.
Emmaus Life Sciences
- The Trade: Emmaus Life Sciences, Inc. (OTC: EMMA) Chairman and CEO Yutaka Niihara acquired a total of 7,500 shares at an average price of $1.44. To acquire these shares, it cost $10.77 thousand.
- What’s Happening: The company’s stock gained more than 4% over the past six months.
- What Emmaus Life Sciences Does: Emmaus Life Sciences Inc is a biopharmaceutical company engaged in the discovery, development, and commercialization of new treatments and therapies primarily for rare and orphan diseases.
- The Trade: Vivakor, Inc. (NASDAQ: VIVK) CEO Matthew Nicosia acquired a total of 320 shares at an average price of $2.95. The insider spent around $944 to buy those shares.
- What’s Happening: Vivakor recently announced closing of $8.0 million underwritten public offering and Nasdaq listing.
- What Vivakor Does: Vivakor Inc is an operator, acquirer, and developer of clean energy technologies and environmental solutions, with a focus on soil remediation.
RENN Fund
- The Trade: RENN Fund, Inc. (NYSE: RCG) President and CEO Murray Stahl acquired a total of 675 shares at an average price of $2.42. To acquire these shares, it cost around $1.63 thousand.
- What’s Happening: The company’s stock gained 6% over the previous month.
- What RENN Fund Does: RENN Fund Inc is active in the financial services domain. It is a closed-end management investment company formed with the objective of providing long-term capital appreciation by investing substantially in privately placed convertible and equity securities of emerging growth companies traded on the United States securities exchanges.
Read at Benzinga