Although US markets ended the day higher, there were a few significant insider deals.
When insiders buy stock, it shows that they believe in the company’s future or see the stock as a good buy. In any case, this indicates a chance to go long on the stock. Insider purchases should not be used as the only signal for making an investment or trading decision. At best, it may offer credibility to a purchasing choice.
3 Insider Stocks
Chardan NexTech Acquisition Corporation
- Transaction: Chardan NexTech Acquisition 2 Corp. (NASDAQ:CNTQ) Director Kerry Propper purchased 485,000 shares of CNTQ stock at an average price of $10.36. These shares cost around $5.02 million to purchase.
- What’s New: The company’s stock has increased by around 6% in the last six months.
- What Chardan NexTech Acquisition 2 Corp Does: Chardan NexTech Acquisition 2 Corp is a firm that accepts blank checks.
- The Company: GMS Inc. (NYSE:GMS) Christopher Shackelton, a 10% owner, purchased a total of 205,000 shares at an average price of $40.19. It cost roughly $8.24 million to buy these shares.
- What’s New: GMS posted better-than-expected Q1 earnings last month.
GMS Inc is a distributor of special construction supplies such as wallboard, suspended ceiling systems or ceilings, steel framework, and other supplementary building products.
- The Company: MillerKnoll, Inc. (NASDAQ:MLKN): Andrea Owen, President, and CEO, purchased 60,606 shares at an average price of $16.88. It cost roughly $1.02 million to buy these shares.
- What’s New: MillerKnoll just announced Q2 guidance that was lower than expected.
- What MillerKnoll Does: MillerKnoll Inc, previously Herman Miller Inc, is a global company that investigates, develops, produces, sells, and distributes interior furnishings.
Featured Image- Unsplash @ Jason Briscoe