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Steve Strazza

C-Suite Execs Combine for a $12 Million PSEC Purchase

September 5, 2024

The most significant insider buy on today's list comes via two Form 4 filings by the CEO and the COO of Prospect Capital Corporation $PSEC.

Together, they purchased $12 million worth of company stock, a clear signal of their confidence in PSEC's outlook.

Here’s The Hot Corner, with data from September 4, 2024:

240905_hot_corner_table

Director Dan H. Wilks bought 792,329 shares of ProFrac Holding Corp $ACDC for $5 million.

In another Form 4, the CEO and president of Dyne Therapeutics Inc $DYN, reported a purchase of $1,057,216.

DYN has been building a massive base for roughly a decade.

Last month, the price attempted to break out above the upper end of this pattern, but it immediately fell back into the range.

240905_hot_corner_dyn

We are wondering whether this is a false breakout, suggesting further downside, or if it's a false start, with buyers needing more time to absorb the overhead supply at this key resistance level.

Either way, the line in the sand lies at the 2014 highs of 37. Any break above that area will shift our bias higher.

Stay tuned. We'll be back on Friday with more insider activity.

And please reach out with any questions. We love hearing from you!

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