CEO Arigo Robert bought 176,470 shares at $0.17 on 2024-07-15; stock now -97.8% from 52-week high. Cluster of 5 other insider buys in 14 days.
Robert Arigo, Chief Executive Officer, purchased 176,470 shares at $0.17, increasing his holdings by 23.5% to 926,470 shares post-transaction. The stock has declined -97.8% from its 52-week high of $462.70 and -83.1% over the past 90 days, trading at $10.31 currently. This transaction occurs amid a broader insider-buying pattern: 5 other insiders purchased shares within the same 14-day window, suggesting coordinated acquisition activity despite severe recent price deterioration. The company posted $29.1M in quarterly revenue with a -$16.8M net loss and remains unprofitable on a full-year basis, creating a tension between fundamental weakness and insider accumulation at severely depressed valuations.