Martin Wygood, a director at
Forian inc (FORA) recently bought 14,573 shares. The buy increased his holdings by 0.6 percent, and came to a total purchase price just over $115,000.
He was joined by another director, Stanley Trotman, who picked up 7,500 shares, increasing his stake by nearly 7 percent, for a total price of $60,000 exactly. The two directors have been steady and consistent buyers over the past few months.
Overall, insiders own 42.7 percent of shares.
Since going public early last year, shares of the marijuana industry software company have slid by 65 percent. That’s in spite of a 3,000 percent jump in revenue for the early-stage company.
Action to take: Following last year’s big selloff in the pot space, the sector looks heavily oversold, no matter what part of the industry it’s in. With a large and steady insider ownership already, today’s buyers could stand to make triple-digit returns when bullish sentiment returns to the pot stocks.
For traders, the June $12.50 calls offer an inexpensive way to bet on a rebound in the first half of this year. Last going for about $0.50, the options have a bid/ask spread closer to $0.45 right now, and could earn triple-digit returns on a relief rally in the space, although traders might want to take profits after any quick jump higher.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.
