Wednesday 5/21 Insider Buying Report: PLUG, RYAM
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 Plug Power, a filing with the SEC revealed that on Friday, CFO & Executive VP Paul B. Middleton purchased 350,000 shares of PLUG, at a cost of $0.72 each, for a total investment of $250,390. Middleton was up about 13.9% on the buy at the high point of today's trading session, with PLUG trading as high as $0.81 at last check today. Plug Power is trading down about 4.8% on the day Wednesday.
And also on Friday, CEO Delyle W. Bloomquist bought $249,879 worth of Rayonier Advanced Materials, buying 63,291 shares at a cost of $3.95 each. Rayonier Advanced Materials is trading down about 3.5% on the day Wednesday. So far Bloomquist is in the green, up about 7.2% on their purchase based on today's trading high of $4.23.
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