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.
At Applovin, a filing with the SEC revealed that on Monday, Director Eduardo Vivas purchased 16,883 shares of APP, for a cost of $59.23 each, for a total investment of $1M. Vivas was up about 15.7% on the buy at the high point of today's trading session, with APP trading as high as $68.55 in trading on Thursday. Applovin is trading up about 5.1% on the day Thursday.
And also on Monday, Director Guy Archibald Innes bought $502,500 worth of VolitionRx, buying 150,000 shares at a cost of $3.35 each. VolitionRx is trading up about 2.1% on the day Thursday. Innes was up about 10.4% on the buy at the high point of today's trading session, with VNRX trading as high as $3.70 in trading on Thursday.
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