Insiders Buy Around $5.5M Of 2 Penny Stocks

The Nasdaq Composite dropped by more than 300 points on Thursday. Investors, meanwhile, focused on some notable insider trades.

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.3

Nextdoor Holdings

• The Trade: Nextdoor Holdings, Inc. KIND Director Mary Meeker acquired a total of 1,398,371 shares at an average price of $3.54. To acquire these shares, it cost $4.96 million.
• What’s Happening: Nextdoor recently announced a buyback program of up to $100 million.
• What Nextdoor Holdings Does: Nextdoor Holdings Inc is the platform to connect to the neighborhoods.

MarketWise

• The Trade: MarketWise, Inc. MKTW 10% owner Porter Frank Stansberry acquired a total of 185,746 shares at an average price of $2.71. The insider spent around $504.02 thousand to buy those shares.
• What’s Happening: The company, last month, posted upbeat quarterly sales.
• What MarketWise Does: Marketwise Inc is a multi-brand subscription services platform providing premium financial research, software, education, and tools for investors.

Also check this: Lions Gate Entertainment And 2 Other Stocks Insiders Are Buying

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