I fell into the trap of thinking along similar lines on another stock I owned, before it was pointed out to me that I should look at the director's buying history. In that case the director was buying every few months. In isolation the purchase I was looking at didn't seem like much, but looking at his history painted a whole new picture. So I figured I'd have a look into our mate Brett to see what he gets up to...
I had a look over his past purchases and this is the smallest but most expensive parcel he's bought. Back in 2019 less than a month after joining the board he picked up 100k shares for the princely sum of $6700. He spent more money on this purchase than he did to acquire his previous 150k shares. He seemed to have a position on MLX prior to joining the board, so I don't have all the data but from what is available his pps has increased by roughly 2/3 after this purchase for only a 20% increase in number of shares he holds. He also doesn't seem to have a history of purchasing before any significant price action. As far as I can tell anyway - my TA is pretty amateur-ish.
Not sure what to read into this purchase so I certainly won't speculate on his motives or any affects it might have on the sp.
MLX Price at posting:
46.5¢ Sentiment: Buy Disclosure: Held
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