$1.8M Bet On This Tech Stock? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

Author: Lisa Levin | July 28, 2023 07:28am

The Dow Jones closed lower on Thursday, after recording gains for 13 straight sessions in a row. 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.

Mobivity Holdings

• The Trade: Mobivity Holdings Corp. (OTC:MFON) Director Thomas B Akin acquired a total of 1,485,648 shares an average price of $1.21. To acquire these shares, it cost around $1.79 million.
• What’s Happening: Mobivity announced the departure of CEO Dennis Becker.
• What Mobivity Holdings Does: Mobivity Holdings Corp develops and operates proprietary platforms over which enterprises conduct data-driven mobile marketing campaigns.

RENN Fund

• The Trade: RENN Fund, Inc. (NYSE:RCG) President and CEO Murray Stahl acquired a total of 419 shares at an average price of $1.85. The insider spent around $775.
• What’s Happening: RENN Fund shares declined around 4% over the past six months.
• What RENN Fund Does: RENN Fund Inc is active in the financial services domain. It is a closed-end management investment company formed with the objective of providing long-term capital appreciation by investing substantially in privately placed convertible and equity securities of emerging growth companies traded on the United States securities exchanges.

iCoreConnect

• The Trade: iCoreConnect Inc. (OTC:ICCT) CEO and President Robert P McDermott acquired a total of 5,156,944 shares at an average price of $0.10. To acquire these shares, it cost around $81,545.
• What’s Happening: The company recently announced its first quarter 2023 results.
• What iCoreConnect Does: iCoreConnect Inc develops and markets secure cloud-based HIPAA compliant software services focused on compliance, workflow/productivity, and electronic health records systems.

 

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Posted In: ICCT MFON RCG