A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $222.7K by James H. Ballengee, Chief Executive Officer at Vivakor Inc (NASDAQ:VIVK).
Ballengee bets big on VIVK:
Purchased
Insider
Title
Shares
Price/Share
Value
04/22/2024
James H. Ballengee
Chief Executive Officer
168,000
$1.33
$222,660.00
Ballengee's average cost works out to $1.33/share. In trading on Wednesday, bargain hunters could buy shares of Vivakor Inc (NASDAQ:VIVK) and achieve a cost basis lower than Ballengee, with shares changing hands as low as $1.28 per share. Shares of Vivakor Inc were changing hands at $1.73 at last check, trading up about 3.5% on Wednesday. The chart below shows the one year performance of VIVK shares, versus its 200 day moving average:
Looking at the chart above, VIVK's low point in its 52 week range is $0.4379 per share, with $1.84 as the 52 week high point — that compares with a last trade of $1.73.
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