As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Tuesday, Neonode (NASDAQ:NEON)'s Director, Mats Dahlin, made a $60,000 buy of NEON, purchasing 20,000 shares at a cost of $3.00 a piece. Neonode is trading up about 4.5% on the day Wednesday. Before this latest buy, Dahlin bought NEON at 2 other times during the past twelve months, for a total investment of $311,700 at an average of $3.46 per share.
And on Friday, CEO Eric Timothy Converse purchased $51,842 worth of VirtualScopics (VSCP), purchasing 12,110 shares at a cost of $4.28 a piece. Before this latest buy, Converse made one other purchase in the past twelve months, buying $25,020 shares for a cost of $4.17 each. VirtualScopics is trading up about 5.3% on the day Wednesday. So far Converse is in the green, up about 12.5% on their buy based on today's trading high of $4.82.
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