Director Friedman Reports a $10 Million RH Buy

By Steve Strazza

June 28, 2024
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The most significant insider buy on today's list comes via a Form 4 filing by the CEO of Restoration Hardware $RH Gary Friedman.

Friedman reported a purchase of roughly $10 million.

Control Empresarial de Capitales S.A. has once again appeared on our radar. This time, they've purchased $6,521,107 worth of PBF Energy Inc $PBF, continuing to build a position in the company.

Here’s The Hot Corner, with data through June 27, 2024:

240628_hot_corner_table

Last but not least, Gregory M. Shepard bought 40,872 shares of Atlas Energy Solutions Inc $AESI.

After reaching all-time highs in May 2021, RH fell off a cliff, losing around 70% since its peak.

Fast forward to today, and the stock is consolidating at the lower bounds of a well-defined range.

240628_hot_corner_rh

If we're above 210, the bias is sideways. However, a violation of this area will give sellers full control.

Have a great weekend. We'll be back on Monday with more insider activity.

And please reach out with any questions. We love hearing from you!

 

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Steve Strazza

Chief Market Strategist, All Star Charts

Steve Strazza brings a unique perspective to the world of Technical Analysis due to his diverse background. Steve found an affinity for financial markets during his first job out of college as a big-4 CPA auditing some of Wall Street’s largest broker-dealers, such as Interactive Brokers and Morgan Stanley. Steve then worked in the Asset Management industry in a variety of roles including Controller for a private equity start-up, Fund Accountant at two large hedge funds, and most notably as a personal Accountant for Steve Cohen at SAC Capital and Point72.

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