US stocks closed higher on Tuesday. Investors, meanwhile, focused on some notable insider trades.
When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.3
- The Trade: Nextdoor Holdings, Inc. KIND Director David Sze acquired a total of 5,837,072 shares at an average price of $3.33. To acquire these shares, it cost $19.43 million.
- What’s Happening: Nextdoor recently announced a buyback program of up to $100 million.
- What Nextdoor Holdings Does: Nextdoor Holdings Inc is the platform to connect to the neighborhoods.
- The Trade: Invacare Corporation IVC 10% owner Steven H Rosen acquired a total of 341,720 shares at an average price of $1.13. The insider spent around $387.8 thousand to buy those shares.
- What’s Happening: Invacare, last month, posted a Q1 loss of $0.69 per share.
- What Invacare Does: Invacare Corp makes and distributes medical equipment used in non-acute care settings. Its products are primarily sold to home medical equipment providers, residential living operators, distributors, and government health services.
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