Over $27M Bet On This Consumer Cyclical Stock? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

Author: Lisa Levin | July 19, 2023 07:03am

The Dow Jones closed higher by more than 300 points on Tuesday. 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.

Muscle Maker

• The Trade: Muscle Maker, Inc. (NASDAQ:GRIL) 10% owner Aggia FZ LLC acquired a total of 8,855,452 shares an average price of $3.12. To acquire these shares, it cost around $27.63 million.
• What’s Happening: Muscle Maker amended its current Services Agreement with AGGIA LLC FZ.
• What Muscle Maker Does: Muscle Maker Inc owns and operates three healthier-for-you restaurant concepts within its portfolio of companies: Muscle Maker Grill restaurants, SuperFit Foods meal prep and Pokemoto Hawaiian Poke restaurants.

RocketFuel Blockchain

• The Trade: RocketFuel Blockchain, Inc. (OTC:RKFL) CEO Peter M. Jensen acquired a total of 1,000 shares at an average price of $0.19. The insider spent around 185.
• What’s Happening: RocketFuel announced a collaboration with Poncho Brotherz, a leading family-owned and operated farm-to-retail cannabis retail store.
• What RocketFuel Blockchain Does: RocketFuel Blockchain Inc is a development-stage company that is in the process of developing check-out systems based upon blockchain technology and designed to increase speed, security, and ease of use.

VBI Vaccines

• The Trade: VBI Vaccines Inc. (NASDAQ:VBIV) Director Steven Gillis acquired a total of 609,090 shares at an average price of $1.65. To acquire these shares, it cost around $1 million.
• What’s Happening: VBI Vaccines announced an $18 million public offering and a $3 million concurrent registered direct offering.
• What VBI Vaccines Does: VBI Vaccines Inc is a US-based commercial-stage, the biopharmaceutical company which is engaged in developing next-generation vaccines to address unmet needs in infectious disease and immuno-oncology.

 

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Posted In: GRIL RKFL VBIV