Charlie Ergen Buys 1.5 Million SATS Shares for $43.5 Million

The biggest insider move on today's list comes from a Form 4 filing by Charlie Ergen, co-founder and chairman of EchoStar Corporation $SATS.

Ergen made a power move, buying 1,551,355 SATS shares, for a value of $43.5 million.

This purchase not only is a vote of confidence—it’s the kind of buy an insider makes for only one reason. They believe the stock price will rise considerably from here. 

Here’s The Hot Corner, with data from November 14, 2024:

Divisadero Street Capital Management filed a 13G for Rush Street Interactive $RSI, revealing an increase in their stake from 5.78% to 7.80%.

The CEO of Lyft Inc $LYFT revealed a purchase of $250,271 in its latest Form 4.

Manuel Anja, a director at Hims & Hers Health $HIMS bought 5,000 shares.

The stock looks poised to break out of a massive base:

While it may need more time to digest overhead supply at this resistance area, if and when prices get back above 25.50, we will want to be long with a target of 39.50.

Over in Washington, multiple members of the House of Representatives made their first big purchases since the election. Virginia Foxx of North Carolina revealed a purchase in Hercules Capital $HTGC. Tom Suozzi of New York bought $50,000 in Nvidia Corporation $NVDA.

And Michael McCaul of Texas reported purchases in Uber Technologies $UBER, Fortinet $FTNT, and Advanced Micro Devices $AMD, among others.