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 1847 Goedeker, a filing with the SEC revealed that on Wednesday, Chief Executive Officer Albert Fouerti purchased 330,000 shares of GOED, for a cost of $2.95 each, for a total investment of $972,345. 1847 Goedeker is trading up about 8.9% on the day Friday. This purchase marks the first one filed by Fouerti in the past twelve months.
And at AES, there was insider buying on Tuesday, by Director Maura Shaughnessy who purchased 30,000 shares for a cost of $23.79 each, for a total investment of $713,822. AES is trading up about 1.8% on the day Friday. So far Shaughnessy is in the green, up about 4.2% on their buy based on today's trading high of $24.80.
For MarketNewsVideo.com, I'm Sayoko Murase.
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