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.
At Super League Gaming, a filing with the SEC revealed that on Tuesday, Mark Jung purchased 16,010 shares of SLGG, at a cost of $3.12 each, for a total investment of $49,898. Jung was up about 17.7% on the purchase at the high point of today's trading session, with SLGG trading as high as $3.67 in trading on Thursday. Super League Gaming is trading up about 5.5% on the day Thursday. This purchase marks the first one filed by Jung in the past year.
And at Athenex, there was insider buying on Friday, by Director Jinn WU who bought 10,000 shares at a cost of $2.67 each, for a total investment of $26,700. Before this latest buy, WU made one other buy in the past year, purchasing $161,000 shares at a cost of $3.22 each. Athenex is trading up about 2.8% on the day Thursday. WU was up about 6.4% on the purchase at the high point of today's trading session, with ATNX trading as high as $2.84 at last check today.
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