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 Micron Technology, a filing with the SEC revealed that on Wednesday, Teyin M. Liu purchased 23,200 shares of MU, at a cost of $337.14 each, for a total investment of $7.82M. Liu was up about 8.5% on the buy at the high point of today's trading session, with MU trading as high as $365.81 at last check today. Micron Technology is trading up about 6.4% on the day Friday. This buy marks the first one filed by Liu in the past twelve months.
And also on Wednesday, Chief Legal Officer Michael Adam Schwartz purchased $31,256 worth of NewtekOne, purchasing 2,247 shares at a cost of $13.91 a piece. NewtekOne is trading up about 0.3% on the day Friday. So far Schwartz is in the green, up about 6.2% on their purchase based on today's trading high of $14.77.
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