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Steve Strazza

Control Empresarial Reports a $16 Million PBF Purchase

September 25, 2024

The most notable insider activity on today's list comes via a Form 4 filing by Control Empresarial de Capitales SA.

The investment firm revealed a purchase of 515,000 shares of PBF Energy Inc $PBF, equivalent to $16,391,491.

Here’s The Hot Corner, with data from September 24, 2024:

240925_hot_corner_table

Elliott Investment Management filed a 13D for Southwest Airlines $LUV, revealing an increase in its ownership stake from 9.70% to 11.00%.

LUV has been carving out a massive topping formation for over a decade.

Price is finding its footing at the range's lower bound as buyers continue to defend this critical level:

240925_hot_corner_luv

The path of least resistance doesn’t point lower for LUV until bears complete the topping formation by taking out those former 2020 lows.

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

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