Clover Health Investments And 2 Other Stocks Under $1 Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Insiders are buying shares of Clover Health Investments, MultiPlan Corporation, and Fresh Tracks Therapeutics, indicating confidence in these penny stocks. Notable transactions include significant purchases by directors and major shareholders.
May 21, 2024 | 12:40 pm
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POSITIVE IMPACT
Clover Health Investments' Director Anna U Loengard acquired 27,085 shares at $0.94 each, following better-than-expected Q1 financial results.
The insider purchase following strong financial results suggests confidence in the company's future performance, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Fresh Tracks Therapeutics' 10% owner Exploration Capital, LLC acquired 74,565 shares at $0.92 each, with the stock gaining around 16% over the past six months.
The insider purchase and recent stock performance suggest positive sentiment and potential for further gains, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
MultiPlan Corporation's Director Anthony Colaluca Jr bought 160,000 shares at $0.60 each, despite the company posting a GAAP loss of 83 cents per share.
The significant insider purchase indicates confidence in the company's long-term prospects, which could positively influence the stock price in the short term despite recent losses.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100