Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Uni-Pixel have popped today by as much as 13% after an insider purchase was disclosed.
So what: CEO Reed Killion picked up an additional 3,400 shares this morning at a price of $14.90, bringing his total direct holdings to over 102,000 shares. That amounts to an additional investment of approximately $51,000 as Killion expresses confidence in Uni-Pixel's prospects.
Now what: The company has been working with Eastman Kodak to commercialize its UniBoss sensor film. Investor optimism propelled shares as high as $41.42 in April, only to see a brutal 26% sell-off on rumors that Apple could become a direct competitor after a patent application was discovered. Analysts have defended the Uni-Pixel, and Killion's personal purchase shows that the CEO isn't too worried, either.
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The article Why Uni-Pixel Shares Popped originally appeared on Fool.com.Fool contributor Evan Niu, CFA, owns shares of Apple. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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