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Tilray Brands And 2 Other Stocks Under $2 Insiders Are Buying

The Dow Jones index closed lower by over 100 points on Friday. 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.
byAvi Kapoor
January 16, 2024
2 minute read
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The Dow Jones index closed lower by over 100 points on Friday. 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.

Retractable Technologies

  • The Trade: Retractable Technologies, Inc. (NYSE:RVP) President and CEO Thomas J Shaw acquired a total of 2,477 shares an average price of $1.14. To acquire these shares, it cost around $2,812.
  • What’s Happening: On Nov. 14, Retractable Technologies reported that its loss from operations was $8.7 million for the first nine months of 2023.
  • What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.

Tilray Brands

  • The Trade: Tilray Brands, Inc. (NASDAQ:TLRY) President and CEO Irwin D Simon acquired a total of 53,700 shares at at an average price of $1.88. To acquire these shares, it cost around $100,956. The company’s CFO bought 20,000 shares and Global General Counsel bought 5,400 shares of the company.
  • What’s Happening: According to an SEC filing, Tilray entered into an assignment and assumption agreement with Double Diamond Holdings Ltd. (DDH) on Jan. 9.
  • What Tilray Brands Does: Tilray is a Canadian producer that cultivates and sells medical and recreational cannabis. In 2021, legacy Aphria acquired legacy Tilray in a reverse merger and renamed itself Tilray.

Check This Out: Top 4 Tech And Telecom Stocks That May Crash In January

Medicine Man Technologies

  • The Trade: Medicine Man Technologies, Inc. (OTC:SHWZ) Chief Legal Officer Christine Jones acquired a total of 4,355 shares at an average price of $0.58. The insider spent around $2,528 to buy those shares.
  • What’s Happening: Medicine Man Technologies, during November, said total revenue in the third quarter rose 8% to $46.7 million.
  • What Medicine Man Technologies Does: Medicine Man Technologies Inc is engaged in providing general consulting services in the cannabis industry.

Don’t forget to check out our premarket coverage here

 
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