$1.8M Bet On This Tech Stock? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying
Portfolio Pulse from Lisa Levin
Insiders at Mobivity Holdings Corp. (MFON), RENN Fund, Inc. (RCG), and iCoreConnect Inc. (ICCT) have recently made significant share purchases. MFON's director acquired shares worth $1.79 million, RCG's CEO bought shares worth $775, and ICCT's CEO purchased shares worth $81,545. These transactions may indicate the insiders' confidence in their respective companies' prospects.
July 28, 2023 | 11:28 am
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iCoreConnect Inc. (ICCT) CEO and President Robert P McDermott acquired 5,156,944 shares at an average price of $0.10, costing around $81,545. This follows the company's recent announcement of its first quarter 2023 results.
The CEO's significant share purchase following the Q1 2023 results could indicate confidence in the company's performance and future prospects. This could potentially have a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Director Thomas B Akin of Mobivity Holdings Corp. (MFON) acquired 1,485,648 shares at an average price of $1.21, costing around $1.79 million. This follows the announcement of the departure of CEO Dennis Becker.
The large purchase by the director could indicate confidence in the company's prospects despite the CEO's departure. This could potentially have a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
RENN Fund, Inc. (RCG) President and CEO Murray Stahl acquired 419 shares at an average price of $1.85, spending around $775. This comes as RCG shares have declined around 4% over the past six months.
The CEO's purchase, despite the recent decline in share price, could indicate a belief in the company's potential for recovery. This could have a positive impact on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100