The Dow Jones closed lower by around 400 points on Tuesday. 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.
Clear Channel Outdoor
- The Trade: Clear Channel Outdoor Holdings, Inc. CCO 10% owner Ares Partners Holdco LLC bought a total of 330,000 shares at an average price of $1.39. To acquire these shares, it cost around $459.92 thousand.
- What’s Happening: Clear Channel Outdoor recently agreed to sell its Switzerland business to Goldbach Group, an affiliate of TX Group, for $92.7 million.
- What Clear Channel Outdoor Does: Clear Channel Outdoor Holdings Inc is one of the world's largest outdoor advertising companies.
- The Trade: Archer Aviation Inc. ACHR Director Michael Spellacy acquired a total of 23,116 shares at an average price of $2.60. The insider spent around $60 thousand to buy those shares.
- What’s Happening: Stellantis partnered with Archer Aviation to manufacture the flagship electric vertical take-off and landing (eVTOL) aircraft, Midnight.
- What Archer Aviation Does: Archer Aviation Inc advances the benefits of sustainable air mobility.
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- The Trade: BioCorRx Inc. BICX 10% owner Louis C Lucido acquired a total of 4,000 shares at an average price of $1.13. To acquire these shares, it cost around $4.5 thousand.
- What’s Happening: The company’s stock tumbled more than 50% over the past six months.
- What BioCorRx Does: BioCorRx Inc is an alcohol treatment and rehabilitation company.
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- The Trade: Applied Digital Corporation APLD CEO, Chairman Wes Cummins acquired a total of 75,000 shares at an average price of $2.17. The insider spent $162.75 thousand to buy those shares.
- What’s Happening: The company recently posted upbeat Q2 results.
- What Applied Digital Does: Applied Blockchain Inc is an Ethereum and altcoin mining company.
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