The Dow Jones index closed higher by around 0.2% on Thursday. 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.
Pineapple Financial
- The Trade: Pineapple Financial Inc. (NYSE:PAPL) CSO Christa Lillian Mitchell bought a total of 2,000 shares at an average price of $0.88. To acquire these shares, it cost around $1,760. The company's COO also bought 2,000 shares.
- What's Happening: On July 16, Pineapple Financial posted a wider-than-expected quarterly loss.
- What Pineapple Financial Does: Pineapple Financial Inc is a Canada-based mortgage technology and brokerage company that provides mortgage brokerage services and technology solutions to Canadian mortgage agents, brokers, sub-brokers, brokerages, and consumers.
Texas Mineral Resources
- The Trade: Texas Mineral Resources Corp. (OTC:TMRC) Director Anthony G. Marchese acquired a total of 37,400 shares at an average price of $0.21. To acquire these shares, it cost around $7,879.
- What's Happening: The company's stock fell 5% over the past month.
- What Texas Mineral Resources Does: Texas Mineral Resources Corp is an exploration-stage mining company.
RENN Fund
- The Trade: RENN Fund, Inc. (NYSE:RCG) President and CEO Murray Stahl acquired a total of 1,207 shares at an average price of $1.78. The insider spent around $2,148 to buy those shares.
- What's Happening: The company's stock gained around 6% over the past month.
- What RENN Fund Does: RENN Fund Inc is active in the financial services domain.
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