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.
At Greenidge Generation Holdings, a filing with the SEC revealed that on Thursday, Director Christopher J. Krug purchased 125,000 shares of GREE, at a cost of $0.83 each, for a total investment of $103,916. Krug was up about 27.5% on the buy at the high point of today's trading session, with GREE trading as high as $1.06 in trading on Friday. Greenidge Generation Holdings is trading up about 17.8% on the day Friday.
And on Tuesday, CEO Rick Van Nieuwenhuyse bought $102,750 worth of Contango Ore, buying 7,500 shares at a cost of $13.70 each. Before this latest buy, Van Nieuwenhuyse purchased CTGO at 3 other times during the past twelve months, for a total cost of $279,800 at an average of $11.19 per share. Contango Ore is trading up about 0.1% on the day Friday. So far Van Nieuwenhuyse is in the green, up about 9.1% on their purchase based on today's trading high of $14.95.
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