Loan Le Duy, a director at Cree Inc. (CREE), recently bought 1,000 more shares. The buy increased the holdings by nearly 6 percent, and came to a total price of just under $85,000.
That marks the second insider buy of the year, also from the same director. Overall, insiders have been sellers of shares over the past 2 years, with insiders last buying in late 2019.
Overall, insiders own about 0.5 percent of company shares.
- My #1 EV Stock (NOT Tesla)
I believe this little-known company will be the next EV giant.
Its car is faster than Ferrari's F8, McLaren's 720S and Porsche's 911 Turbo. Yet it's 100% electric.
And while it's a marvel of American engineering...The CEO wants it to be an everyman's car... and plans to ship out 1 million per year.
Already, it's set to grow faster than Tesla, Amazon and Facebook... COMBINED. Sales could DOUBLE to $5.5 billion in 2023... then almost double again to $9.9 billion a year after that.
Simply put, this company could be on the verge of a HUGE run.
The manufacturer of semiconductors and light emitting diodes, is up 43 percent over the past year. The company has been deeply unprofitable, although revenue is up over 34 percent in that timeframe.
Action to take: As one of many players in the LED space, Cree stands out as a leader. While that may not mean the company turns around to profitability right away, shares may have started a new uptrend in the past few weeks. Investors may like shares here, as a rebound could lead to a market-beating return over the next few months.
For traders, the January $100 calls are less than halfway between the current price of $85 and the 52-week high near $130. These calls last went for about $4.25. On a strong rebound, they could move in-the-money, but traders should just look for a quick rally higher offering high double-digit gains to make a profit.
Disclosure: The author of this article has no position in the company mentioned here, but may make a trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.