Insider buying signals confidence in a company’s prospects, as evidenced by recent transactions at Bakkt and HF Sinclair. On Monday, Bakkt Director Michael Alfred purchased 585,000 shares at $8.29 each, totaling $4.85 million. Following this acquisition, the stock rose about 16.2% on Tuesday, peaking at $10.99, giving Alfred a 32.6% paper gain at its high.
Meanwhile, HF Sinclair CEO Franklin Myers bought 15,000 shares at $69.11 each for a total investment of $1.04 million, though the company’s stock saw a slight decrease of 0.2% on Tuesday.
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