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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At PayPal Holdings, a filing with the SEC revealed that on Friday, EVP, Chief Product Officer Mark Britto bought 7,370 shares of PYPL, for a cost of $81.04 each, for a total investment of $597,229. PayPal Holdings is trading off about 2% on the day Tuesday.
And at MP Materials, there was insider buying on Monday, by Director Connie K. Duckworth who bought 15,200 shares at a cost of $38.37 each, for a trade totaling $583,224. This buy marks the first one filed by Duckworth in the past year. MP Materials Corp is trading down about 9.1% on the day Tuesday.
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