Despite the ongoing market volatility spurred by recession fears and geopolitical issues, insider buying remains strong, particularly by beneficial owners like Carlos Slim, indicating confidence in stocks.
Insider buying is considered an encouraging signal during market uncertainties. Corporate insiders buy shares largely because they anticipate the stock price will rise, showcasing their investment confidence.
PBF Energy has attracted substantial insider interest, especially from Carlos Slim's Control Empresarial de Capitales, which has significantly increased its stake amid mixed quarterly results and declining stock value.
The uptick in insider buying amid market fluctuations suggests that some investors are looking past immediate uncertainties, viewing potential gains in underlying energy stocks that insiders are purchasing.
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