Some recent bank insiders that bought stock in their respective banks are finally looking smart after looking like fools for some time.
Over the years, insider buying has been seen as a sign of strength of a company, but lately, especially in the banks, the buying has been seen as a sign of weakness. Investors view the buys as feeble attempts at confidence building. The intended confidence never materializes and the stocks continue to be brutalized by running shareholders and the short sellers that continuously pounce on the once-mighty blue chips, turned penny stocks.
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