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Corporate Insiders Bolstering Stocks in Unbelievable Ways

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It was a day of tiny gains for the Dow Jones on Wednesday. Insider trading activity has always been a telltale sign of a companyโ€™s direction. Investors and traders hovering around penny stocks should pay close attention to this development, which could sway their investment or trading choices.

Hereโ€™s a glimpse into some remarkable insider trades involving penny stocks. For further details, refer to the Benzingaโ€™s insider transactions platform.

CommScope Holding

  • Trades Placed: CommScope Holding Company, Inc. COMM SVP, Chief Legal Officer & Sec Justin Choi snapped up 28,600 shares at an average price of $1.74. The acquisition of these shares set him back approximately $49,750.
  • The Buzz: On Nov. 9, CommScope reported third-quarter net sales of $1.6 billion.
  • CommScope Holdingโ€™s Realm: CommScope Holding Co Inc is a provider of infrastructure solutions for communication, data center, and entertainment networks.

Reedโ€™s

  • Trades Placed: Reedโ€™s, Inc. REED Director John Bello acquired a total of 5,000 shares at an average price of $2.04, shelling out about $10,200 for the purchase.
  • The Dope: On Nov. 9, Reedโ€™s posted a narrower-than-expected quarterly loss.
  • Reedโ€™s Business: Reedโ€™s Inc sells Ginger Beer brand. The companyโ€™s portfolio of handcrafted, all-natural beverages is sold in over 45,000 outlets nationwide including the natural and specialty food channel, grocery stores, mass merchants, drug stores, convenience stores, club stores, and on-premise locations including bars and restaurants.

Also Worth a Look: Investor Optimism Edges Lower Following GDP Data

Socket Mobile

  • Trades Placed: Socket Mobile, Inc. SCKT Director Charlie Bass bought 5,000 shares at an average price of $1.40, forking out approximately $6,999 for these shares.
  • The Happenings: On Oct. 27, Socket Mobile posted a wider-than-expected third-quarter loss.
  • Socket Mobileโ€™s Domain: Socket Mobile Inc is a producer of data capture products.

Beasley Broadcast Group

  • Trades Placed: Beasley Broadcast Group, Inc. BBGI CEO Caroline Beasley secured 2,825 shares at an average price of $0.71, shelling out about $2,005 for these shares.
  • The Scoop: On Nov. 1, Beasley Broadcast Group posted downbeat quarterly results.
  • Beasley Broadcast Groupโ€™s Domain: Beasley Broadcast Group Inc is a multi-platform media company, whose primary business is operating radio stations throughout the United States.

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