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Weekly Watchlist: Insiders Buying at the Bottom

Steven Place  |  August 1, 2022
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Along with the dismal GDP print showing that the US is indeed in a recession…

A lot of Americans also recently got their Q2 retirement account reports in the mail (or e-mail).

If you couldn’t stand to take a look at it and see the sprawling sea of red ink spilling all over the page…

Or if you happened to take a peak and you’re still chewing through Tums to deal with the volcano of indigestion it’s caused you…

Then you’re going to want to pay very special attention to this:

MKTW

MKTW Chart

MKTW Chart

Marketwise is a trading education company that has (like so many other things) had a rough 2022. The stock is trading sub $3, and we’ve seen a second big insider buy on this recently.

Back in June, POrter Stansberry picked up about 180k shares, increasing total shares held to $425k. At the end of July, he added about 700k shares, representing a massive increase.

On the Form 4, it shows him as a 10% owner so not a proper insider. Yet this is one to watch because I have a feeling he has a good read on this company.

ACU

ACU Chart
ACU Chart

Acme. Yes, that Acme. The one that’s referenced in Looney Tunes is a real company. It’s been around since the Reconstruction era, and it is a super illiquid stock that’s drifting towards 6 month lows.

During the last week of July, you had a Director who picked up about 1000 shares. Not a huge amount, yet interesting to note as you don’t usually see buys in “boring” names like this.

PLAG

PLAG Chart
PLAG Chart

This trashy little penny stock would normally not make the list, but it has a history of massive moves higher following insider buying. 

The CEO just dropped 7.2 million into the stock, throwing in some serious size. 

There’s a shelf offering sitting above the current price, and it has a tendency to revert hard after pumping up. Make sure you’ve got an exit strategy if you’re going to play this one.

BKR

BKR Chart
BKR Chart

Baker Hughes is an oil name I’ve been watching as it came back into key levels in the low 20s.

We had a director significantly increase his stake, dropping $244k into the stock. Insider buys on these oil names should be something you should be watching out for, and this one gives us a great signal.

If you want more of this and learn how to follow insider moves for you own portfolio, go here and watch this special presentation.

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Author:

Steven Place
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