The Nasdaq Composite jumped around 4% 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
Planet Green Holdings
- The Trade: Planet Green Holdings Corp. (NYSE: PLAG) CEO Bin Zhou acquired a total of 4,800,000 shares at an average price of $1.50. To acquire these shares, it cost around $7.2 million.
- What’s Happening: Planet Green recently entered into share exchange agreement.
- What Planet Green Does: Planet Green Holdings Corp is a diversified technology and consumer products company with presence in North America and China engaged in Chemical Products, Tea Products and Online Advertising Services.
- The Trade: Medalist Diversified REIT, Inc. (NASDAQ: MDRR) 10% owner Susan Finley acquired a total of 209,236 shares at an average price of $0.88. The insider spent around $183.29 thousand to buy those shares.
- What’s Happening: Alfred Lee Finley recently disclosed a 10.9% passive stake in Medalist Diversified REIT.
- What Medalist Diversified REIT Does: Medalist Diversified REIT Inc is engaged in the acquisition, reposition, renovation, leasing and managing of income-producing properties with a focus on commercial properties, including flex-industrial and retail properties, multi-family residential properties and hotel properties.
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Tabula Rasa HealthCare
- The Trade: Tabula Rasa HealthCare, Inc. (NASDAQ: TRHC) 10% owner Derek Schrier acquired a total of 59,262 shares at an average price of $4.28,. To acquire these shares, it cost around $253.66 thousand.
- What’s Happening: Tabula Rasa HealthCare reported five-year contract extension with Trinity Health PACE.
- What Tabula Rasa HealthCare Does: Tabula Rasa HealthCare Inc is engaged in providing patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk.
Read at Benzinga