The Euro surged to $1.13 against the US dollar this morning after recent data showed the Eurozone inflation increased to a new record high of 5.1% in January. Investors, meanwhile, focused on some notable insider trades.
US stock futures traded lower this morning after Netflix, Inc. (NASDAQ: NFLX) issued weak subscriber growth forecast for the first quarter. However, investors also 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.
Companies Reporting Before The Bell
• Imara (NASDAQ:IMRA) is projected to report earnings for its third quarter.
• KT (NYSE:KT) is projected to report earnings for its third quarter.
Gainers
Kiromic BioPharma (NASDAQ:KRBP) shares increased by 5.26% to $3.0 during Friday's after-market session. The market value of their outstanding shares is at $46.3 million.
When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.