My Happy New Year gift to everyone on this mailing list, FBIO, whose CEO has been buying all year, including a big, $1.4 million purchase, in September, two months in front of a major drug approval*. The stock is moving up on heavy volume, especially for a holiday week. Is something going on? Maybe. So I'm bringing it to everyone's attention with the caveat that you can do some digging on your own from here, including selection of the right options: Keep in mind there are some wide bid-asks, so for those addicted to options and with the common stock trading under $3 a share, do you really need options? They come with great leverage, even for a $2.36 stock, as well as that pesky hour glass, forever at work. Trade smart, maybe some stock and some calls, just to juice returns.
*Checkpoint Therapeutics (CKPT) operates as a subsidiary of Fortress Biotech (FBIO)
CEO Stock Purchases - 2024
* Fortress Biotech's CEO is Lindsay Rosenwald, appointed in Dec 2013, has a tenure of 15.17 years. total yearly compensation is $1.12M, comprised of 5.6% salary and 94.4% bonuses, including company stock and options. He directly owns 13.42% of the company’s shares, worth $8.74M. (Link)
FBIO CHARTS
Weekly
Daily
Looks to be just one or two breakout bars away from a bona fide "Breakout Buy Signal" with at least a triple digit gain basis the stock price. Watch volume closely on any such breakout and if it confirms, it's all in on the long side.
120 Minute
Impressive day on Friday, +14.56% on second highest volume day in December.
BlueLineTradingSystem.com
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