Sometimes the best opportunities can be found in severely beaten down stocks.
Especially when insiders are buying the pullbacks.
Look at rebounding shares of Akamai Technologies (SYM: AKAM).
After gapping from about $102.50 to a low of $67.51, AKAM is just starting to pivot higher. Last trading at $79, we’d like to see the stock refill its bearish gap at around $97.50 initially.
Helping, co-founder and CEO Tom Leighton just bought 37,670 shares at an average price of $79.58 each for $3 million on February 27. Leighton noted:
“Akamai is in the midst of a multiyear transformation, and I am very excited about our future. I see tremendous greenfield for our security products, particularly our fastest-growing API security and Zero Trust security solutions. And customer traction with our Cloud Infrastructure Services is just starting to take off. As we discussed on our recent earnings call, we are forecasting 40%-45% growth in this segment this year, and rapid expansion of our compute services through the end of the decade,” as quoted by Barron’s.
“We have a differentiated cloud offering that enterprises want, and our addressable market is more than $100 billion. My belief in Akamai and our opportunity for revenue growth is strong.”
FMC Corp. (SYM: FMC)
FMC Corp. gapped from about $54 to a low of $35. However, it’s just starting to rebound higher with Chairman and CEO Pierre Brondeau paying $1.9 million for 54,000 shares on March 4. All after the company provided guidance that fell short of expectations.
“My recent purchase of nearly $2 million in FMC shares reflects my personal confidence in our company’s strategy and future,” he said, as also quoted by Barron’s. “The current share price presented what I view as a compelling opportunity to increase my personal investment in a company whose short-term and long-term prospects I firmly believe in.”
GeneDx Holdings (SYM: WGS)
GeneDx Holdings, a $1.75 billion genomics company, recently dropped from about $117.75 to a low of $55, where it appears to have caught support. Just starting to pivot higher, we’d like to see WGS refill its bearish gap at around $117.75 again soon.
Helping, director Keith Meister who purchased 100,000 shares at a cost of $56.01 each, for a trade totaling $5.6 million.
P.S. Chart of Day: Block (SYM: XYZ)
Bitcoin is now back above $104,000 and could push even higher.
All thanks to bets on Federal Reserve rate cuts, institutional inflows, and easing trade tensions between the U.S. and the U.K. Not only is that great news for cryptocurrencies but also for companies that are diversifying with cryptocurrencies.
Helping, BitMEX co-founder Arthur Hayes says Bitcoin could soar to $150,000 by the end of 2025. In fact, according to Hayes, as quoted by CoinCentral.com, “We’re entering a perfect storm for a Bitcoin rally. The macroeconomic environment is pushing the Fed towards more dovish policies, and that means more dollars entering the system. That’s fuel for Bitcoin.”
In addition, “It’s not just about Bitcoin anymore,” he added. “Once the money printer turns on, everything from ETH to SOL benefits.” Again, that’s a significant catalyst for cryptocurrencies, and companies diversifying with it.
