| The 80/20 Rule of Crypto Wealth Building |
Insiders know their company the best.
So, if they’re buying, there’s often a good reason for it.
DraftKings (DKNG)
After pulling back on competitive threats, two DKNG insiders saw the drop as a buy opportunity. In fact, former Metro-Goldwyn Meyer CEO Harry Sloan, who has been on the board of DKNG since early 2020, just bought 25,000 shares for about $30.30 each, or $757,500.
Director Gregory Wendt made his first purchase since joining the board in late October. Wendt bought 10,000 shares for $30.27 each, or a total of $302,700.
Norwegian Cruise Line Holdings (NCLH)
After shares of NCLH gapped from about $22 to $18.24 thanks to underwhelming earnings, three insiders bought the stock. On November 6, EVP and CFO Mark Kempra bought $197,051 worth of stock. Chief Luxury Officer Jason Montague bought $252,020 worth of the stock. And the President and CEO, Harry Sommer picked up $462,932 worth of the NCLH stock.
At $18.56 a share, NCLH is oversold at support dating back to June. It’s also oversold on RSI, MACD, and Williams’ %R. The last time it became this oversold, NCLH ran from a low of about $15 a share to a high of about $27 a share.
Intuitive Machines (LUNR)
After the Intuitive Machines stock slipped from about $14 highs, director Michael Blitzer bought 141,080 shares on November 12 for about $1.3 million. On November 13, he bought 100,000 shares of LUNR for about $883,230.
Helping, analysts at Stifel just initiated coverage of the LUNR stock with a buy rating with an $18 price target. “The firm highlighted Intuitive Machines’ early-mover advantage in the emerging lunar market, noting the company has established advantaged positions in multiple verticals including delivery services and lunar communication,” according to Investing.com.
Analysts at Deutsche Bank upgraded LUNR to a buy rating with a price target of $18, as well. The firm sees an attractive set-up for the next three to six months, supported by clear commercial catalysts. The firm also believes LUNR trades at a sizable discount to its peers.
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