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 cash to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
On Wednesday, COO Paul A. Boris purchased $25,987 worth of Vuzix Corp (NASDAQ:VUZI), purchasing 5,000 shares at a cost of $5.20 each. Before this latest buy, Boris made one other buy in the past twelve months, purchasing $61,000 shares at a cost of $6.10 a piece. Vuzix Corp is trading up about 0.9% on the day Monday. Boris was up about 4.9% on the buy at the high point of today's trading session, with VUZI trading as high as $5.45 in trading on Monday.
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