We provide the latest news
from the world of economics and financeAs 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 Opendoor Technologies, a filing with the SEC revealed that on Thursday, Director Eric Chung-wei Wu bought 451,127 shares of OPEN, at a cost of $6.65 each, for a total investment of $3M. Wu was up about 47.7% on the buy at the high point of today's trading session, with OPEN trading as high as $9.82 in trading on Tuesday. Opendoor Technologies is trading off about 3.6% on the day Tuesday. This purchase marks the first one filed by Wu in the past year.
And on Friday, Director James M. Collingsworth purchased $580,160 worth of NGL Energy Partners, purchasing 100,000 shares at a cost of $5.80 a piece. NGL Energy Partners is trading up about 5.7% on the day Tuesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.