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 Monday, Tricida (NASDAQ:TCDA)'s, David Hirsch, made a $2.50M buy of TCDA, purchasing 131,579 shares at a cost of $19.00 each. So far Hirsch is in the green, up about 64.5% on their buy based on today's trading high of $31.25. Tricida is trading up about 3.8% on the day Tuesday. This buy marks the first one filed by Hirsch in the past twelve months.
And also on Monday, CEO Edward H. Murphy purchased $100,000 worth of IZEA (NASDAQ:IZEA), purchasing 100,000 shares at a cost of $1.00 each. This purchase marks the first one filed by Murphy in the past year. IZEA is trading down about 3% on the day Tuesday. Investors can snag IZEA at a price even lower than Murphy did, with the stock trading as low as $0.89 in trading on Tuesday — that's 10.7% under Murphy's purchase price.
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