The Dow Jones jumped by around 150 points on Monday. 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
Nextdoor Holdings
- The Trade: Nextdoor Holdings, Inc. (NYSE:KIND) Director David Sze bought a total of 3,100,000 shares at an average price of $2.98. To acquire these shares, it cost around $9.25 million.
- What’s Happening: Nextdoor Holdings recently reported worse-than-expected Q2 results and issued weak guidance.
- What Nextdoor Holdings Does: Nextdoor Holdings Inc is the platform to connect to the neighborhoods. The purpose is to cultivate a kinder world where everyone has a neighborhood.
GreenLight Biosciences
- The Trade: GreenLight Biosciences Holdings (NASDAQ:GRNA) Director Matthew Allen Walker acquired a total of 6,441,326 shares at an average price of $3.92. The insider spent around $25.25 million to buy those shares.
- What’s Happening: The company reported a wider Q2 loss.
- What GreenLight Biosciences Does: GreenLight Biosciences Inc is a pre-commercial stage synthetic biology company with a proprietary cell-free ribonucleic acid production platform for the discovery, development, and commercialization of high-performing products to promote healthier plants, foods, and people.
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BitNile Holdings
- The Trade: BitNile Holdings, Inc. (NYSE:NILE) Executive Chairman Milton C. Ault III acquired a total of 1,014,921 shares at an average price of $0.38. To acquire these shares, it cost around $384.76 thousand.
- What’s Happening: The company’s stock dropped around 62% over the past six months.
- What BitNile Holdings Does: BitNile Holdings Inc is a diversified holding company owning subsidiaries engaged in commercial and defence solutions, commercial lending, and data centre operations in North America, Europe, the Middle East, and internationally.
Protara Therapeutics
- The Trade: Protara Therapeutics, Inc. (NASDAQ:TARA) CEO and President Jesse Shefferman acquired a total of 9,065 shares at an average price of $3.84. The insider spent $34.81 thousand to buy those shares.
- What’s Happening: The company recently posted a Q2 loss of $0.80 per share.
- What Protara Therapeutics Does: Protara Therapeutics Inc is committed to identifying and advancing transformative therapies for people with rare and specialty diseases.
