And at Insmed (INSM), there was insider buying on Monday, by CEO William Lewis who purchased 7,585 shares for a cost of $9.83 each, for a trade totaling $74,547. Before this latest buy, Lewis purchased INSM on 3 other occasions during the past year, for a total cost of $248,579 at an average of $7.28 per share. Insmed is trading up about 2.8% on the day Tuesday.
But I was far more impressed by Monday morning's trading. 2.5 million shares traded in two or three hours is a massive increase compared with average volume. Most of the times we've seen really high volume it's been accompanied by a 50% haircut. This time it took the price from the $8.50-ish achieved in pre-market with a few thousand shares to $10.50-ish.
The usual suspects took advantage when the buying pressure eased off to walk the price back down to 9.50-ish. But the current $10.04 after another million shares traded yesterday is telling the true story.
Seems there's a considerable amount of investor confidence at this point.
Total BS..... Premarket took the share price from $13.25-ish to $8.50-ish with a close of 9.50-ish leaving my shares worth 19% less than they where at the close the previous day( $11.96-ish). And you want to pretend there was buying pressure. That kinda of talk makes all your postings less credible.......I got an idea! Let's keep it real.