π¨ Unusual insider purchase alert π¨
Friends, pay attention to the sequence of insider purchases we identified in the gold company:
$GOLD π
We noticed a very unusual chain of events, pay attention:
On February 5, Gold.com, the gold and silver trading platform, announced a strategic investor purchasing 3,371,000 shares at a price of $44.50, approximately $150,000,000. π΅
On February 9, the stock was at an all-time high of $66.70.
May 22, after four days of open market insider purchases, the same investor updated that it holds an additional 200,000 shares for a sum of approximately $8,243,000. π΅
September 3, another 100,000 shares, for approximately $3,930,000, and the additional holding stands at exactly 300,000. π΅
October 14, another 100,000 shares, for approximately $3,983,000, and exactly 400,000. π΅
October 26 to 28, another 100,000 shares at an average price of $39.27, for approximately $3,927,000, and exactly 500,000. π΅
You are probably asking yourselves who is behind these steps? π
This is Tether, the company that issues USDT, the digital currency pegged to the dollar, and XAUT, a gold-backed digital currency. πΈ
All purchases were made in the open market at the market price, without a pre-defined stock purchase plan.
And here comes the part that surprised us the most in this story:
Tether bought all 500,000 open market shares at an average price of approximately $40.17, below the $44.50 it paid in February. π
Pay attention, the price went down, and it did not stop, it added more. π΅
In total, Tether invested approximately $170 million in the stock, and its representative has been sitting on the board of directors since March of this year. π
Today, the stock is 41% below its February peak.
The next report of $GOLD is on November 4, this coming Wednesday! π¨
Let's summarize with a question: what does Tether see in $GOLD that makes it return again and again and buy so many shares, especially when the stock is falling? π‘
We are tracking π