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Insiders buy up these 3 stocks amid market crash

Insiders buy up these 3 stocks amid market crash
Paul L.
Stocks

As the stock market suffered its worst loss since the pandemic, many insiders across various firms opted to offload their shares on April 4.

However, a few key executives at three companies took a different approach, possibly viewing the chaos as a buying opportunity and banking on a stock market recovery.

Domo (NASDAQ: DOMO)

Domo (NASDAQ: DOMO) saw significant insider buying activity from two key executives. Founder and CEO Joshua James purchased 77,000 shares at $6.50 each, totaling $500,500.

Simultaneously, Director Daniel David Daniel acquired 120,000 shares at $6.44 apiece, valued at $772,800. These purchases increased their ownership stakes in the company by 5.09% and 16.14%, respectively.

Domo, a Utah-based cloud software company, has faced challenges in recent quarters, such as slowing growth and competitive pressures. However, insider buying may signal that leadership sees a turnaround ahead.

Since the transactions, DOMO shares have edged higher. At the close of the last trading session, the equity was trading at $6.64, representing a 2.15% gain on James’s purchase and a 3.11% gain on Daniel’s.

DOMO one-day stock price chart. Source: Finbold

Resources Connection  (NASDAQ: RGP)

At Resources Connection (NASDAQ: RGP), a global consulting and business advisory firm, insider buying activity included President and CEO Kate Duchene acquiring 20,000 shares at $5.14 each for a total investment of $102,800 as of April 4.

On the same day, Director Roger Carlile purchased 25,000 shares at $5.06 per share, totaling $126,500.

These transactions increased Duchene’s ownership stake by 3.14% and Carlile’s by 60.16%.

Since the insider purchases, RGP stock has inched up to $5.19 as of press time. 

RGP one-day stock price chart. Source: Finbold

While the gains are modest, 0.97% for Duchene and 2.57% for Carlile, they represent positive momentum and may be interpreted as early signs of renewed investor optimism.

Dakota Gold (NYSEAMERICAN: DC)

Dakota Gold (NYSEAMERICAN: DC) President and CEO Robert Quartermain acquired 65,000 shares at $2.58, valued at $167,700. 

While the transaction didn’t materially alter his ownership percentage, which remains at 0%, it stands out as a potential vote of confidence in the South Dakota-based gold exploration and development company’s future.

Since the acquisition, Dakota Gold’s share price has dipped to $2.48 as of reporting time, reflecting a 3.88% loss for the executive.

DC one-day stock price chart. Source: Google Finance

While the short-term performance is weak, investors often view insider buying, especially from top executives, as a bullish signal, suggesting potential undervaluation or upcoming positive developments.

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