Michael Keller, a director at Super League Gaming Corp (SLGG), recently bought 17,000 shares. The buy increased his stake by over 11 percent, and came to a total cost of just over $103,000.
This marks the first insider buy since December 2019. Over the past three years, insiders have all been sellers. That includes director and C-suite executive buys. Overall, insiders own about 12.5 percent of company shares.
Super League Gaming is in the video gaming and esports entertainment industry, offering a platform for players largely in the United States. Shares are up 90 percent over the past year, and revenues have nearly doubled, although the company is still unprofitable.
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Action to take: Given the growth of esports, this smaller player could offer attractive returns on outsized growth. It could also end up getting acquired by a larger player in the space. Insider buying trends point to a company with solid long-term prospects.
For traders, the October $7.50 calls last going for about $1.85, offer leveraged upside to a move higher. The stock recently shot as high as $11 per share in early March, but have now slid by nearly 50 percent to the low $6 range where they look oversold. A quick bounce higher in shares could lead to high-double to low-triple digit profits for shares.
Disclosure: The author of this article has an options in the stock mentioned here, but has no intention of changing or starting a new position in the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.