$1 Million Bet On Motorsport Games? Check Out These 4 Penny Stocks Insiders Are Buying

The Nasdaq dropped more than 200 points on Monday. 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.

Applied Digital

• The Trade: Applied Digital Corporation APLD CEO, Chairman Wes Cummins bought a total of 25,000 shares at an average price of $2.96. To acquire these shares, it cost around $74 thousand.
• What’s Happening: Applied Blockchain recently posted Q2 adjusted loss of $0.04 per share.
• What Applied Digital Does: Applied Blockchain Inc is an Ethereum and altcoin mining company.

Biomerica

• The Trade: Biomerica, Inc. BMRA Director Cathy Coste acquired a total 2,190 shares at an average price of $2.96. The insider spent around $6.48 thousand to buy those shares.
• What’s Happening: Biomerica, last month, received Kingdom of Saudi Arabia Food And Drug Administration and Ministry of Health approval for colorectal screening and breast screening tests in Saudi Arabia and UAE.
• What Biomerica Does: Biomerica Inc is engaged in the development, manufacturing, and marketing of medical diagnostic products designed for the early detection and monitoring of chronic diseases and medical conditions.

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Context Therapeutics

• The Trade: Context Therapeutics Inc. CNTX CEO Martin Lehr acquired a total of 7,027 shares at an average price of $0.70. To acquire these shares, it cost around $4.9 thousand.
• What’s Happening: Context Therapeutics said on January 24, that the company received notice of delisting or failure to satisfy continued listing rule or standard from Nasdaq.
• What Context Therapeutics Does: Context Therapeutics Inc is a clinical-stage biopharmaceutical company dedicated to improving the lives of women living with cancer.

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Motorsport Games

• The Trade: Motorsport Games Inc. MSGM 10% owner Mike Zoi acquired a total of 338,983 shares at an average price of $2.95. The insider spent $1 million to buy those shares.
• What’s Happening: Motorsport Games, last month, entered into equity purchase agreement.
• What Motorsport Games Does: Motorsport Games Inc is a motorsport network company that combines engaging video games with esports competitions and content for racing fans and gamers around the globe.