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 two noteworthy recent insider buys.
On Tuesday, LifeMD (NASDAQ:LFMD)'s , Happy David Walters, made a $299,655 purchase of LFMD, buying 41,697 shares at a cost of $7.19 each. Walters was up about 12.6% on the purchase at the high point of today's trading session, with LFMD trading as high as $8.09 at last check today. LifeMD is trading up about 4.6% on the day Thursday. This buy marks the first one filed by Walters in the past year.
And on Wednesday, COO Marc Katz bought $256,725 worth of Tuesday Morning Corp (TUEM), buying 150,000 shares at a cost of $1.71 each. Tuesday Morning Corp is trading up about 23.1% on the day Thursday. So far Katz is in the green, up about 31.5% on their purchase based on today's trading high of $2.25.
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