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 Friday, Butterfly Network's, Larry Robbins, made a $6.78M buy of BFLY, purchasing 2,800,000 shares at a cost of $2.42 a piece. Robbins was up about 27.9% on the buy at the high point of today's trading session, with BFLY trading as high as $3.10 in trading on Monday. Butterfly Network is trading up about 16.6% on the day Monday. This buy marks the first one filed by Robbins in the past year.
And at Westrock Coffee, there was insider buying on Wednesday, by Director Robert Patrick Kruczek who bought 150,000 shares at a cost of $4.14 each, for a total investment of $620,950. Before this latest buy, Kruczek made one other buy in the past twelve months, purchasing $1.02M shares at a cost of $6.82 a piece. Westrock Coffee is trading down about 0.7% on the day Monday.
VIDEO: Monday 11/24 Insider Buying Report: BFLY, WEST
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