The Nasdaq Composite closed higher by more than 100 points on Wednesday. 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.
Coupa Software (COUP) - A play on a rumor from Wednesday. Shares closed up nearly 30% following a Bloomberg report Vista Equity Partners was considering a buyout of Coupa. An analyst at Raymond James Friday morning
Gainers
Cosmos Holdings Inc. (NASDAQ: COSM) jumped 86.9% to close at $0.3275 on Tuesday after jumping 21% on Monday. Cosmos Health agreed to sell its Sky Premium Life Luxury food supplement brand on Iberian Airlines' in-flight magazine, Ronda.
Gainers
Palisade Bio, Inc. (NASDAQ: PALI) shares jumped 99.1% to $4.42 after the company announced the FDA granted Fast Track designation to LB1148 for the acceleration of time to return of bowel function following surgery.