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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Thursday, Wex's Chair, CEO, and President, Melissa D. Smith, made a $500,720 purchase of WEX, buying 3,721 shares at a cost of $134.57 a piece. Wex Inc is trading up about 1.5% on the day Tuesday.
And at Sharplink Gaming, there was insider buying on Friday, by Chief Executive Officer Rob Phythian who bought 44,640 shares for a cost of $6.72 each, for a trade totaling $299,981. This purchase marks the first one filed by Phythian in the past twelve months. Sharplink Gaming is trading up about 14.7% on the day Tuesday. So far Phythian is in the green, up about 926.8% on their buy based on today's trading high of $69.00.
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