Vroom And 3 Other Stocks Under $1 Insiders Are Aggressively Buying

Author: Lisa Levin | May 26, 2023 07:14am

The Dow Jones closed slightly lower on Thursday. 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.

Fomo Worldwide

The Trade: Fomo Worldwide, Inc. (OTC:FOMC) CEO, Director Vikram P Grover acquired a total 205,215,481 shares an average price of $0.01. To acquire these shares, it cost around $1.13 million.
What’s Happening: FOMO WORLDWIDE’s intRAtrain unit won a contract to develop a series of training modules for a large animal health company in early June.
What Fomo Worldwide Does: Fomo Worldwide Inc is focused on business incubation and acceleration. It invests in and advises emerging companies.

SHF Holdings

The Trade: SHF Holdings, Inc. (NASDAQ:SHFS) Chief Legal Officer Donald Emmi acquired a total of 141,012 shares at an average price of $0.38. The insider spent around $53.44 thousand to buy those shares. The company’s Director also purchased the company’s shares.
What’s Happening: SHF Holdings, Inc., Safe Harbor Financial said first-quarter revenue surged 150% year-over-year.
What SHF Holdings Does: SHF Holdings Inc is a financial services provider to cannabis-related businesses.
Vroom
The Trade: Vroom, Inc. (NASDAQ:VRM) Robert J. Mylod acquired a total of 500,000 shares at an average price of $0.76. To acquire these shares, it cost around $379 thousand.
What’s Happening: Vroom reported worse-than-expected first-quarter sales results.
What Vroom Does: Vroom Inc is an end-to-end e-commerce platform for the used vehicle industry.

Check This Out: Investor Sentiment Improves Following Strong Results From Nvidia

Don’t forget to check out our premarket coverage here

Grove Collaborative

The Trade: Grove Collaborative Holdings, Inc. (NYSE:GROV) Director John B Replogle acquired a total of 207,300 shares at an average price of $0.48. The insider spent $100.04 thousand to buy those shares. The company’s other Director also purchased the company’s shares.
What’s Happening: Grove Collaborative reported a 1-for-5 reverse stock split.
What Grove Collaborative Does: Grove Collaborative Holdings Inc is engaged in providing consumer products. It offers Cleaning accessories, Home and Pantry, Personal care products, Pets supplements and Other products.

Posted In: FOMC GROV SHFS VRM