Director Michaels buys 9.1K shares of SLNH at $3.47; 11.6% position increase with 100% 90-day win rate on same ticker
Director David C Michaels purchased 9,100 shares at $3.47 on 2024-06-18, expanding his holdings from 78,726 to 87,826 shares (+11.6%). This represents a discretionary open-market buy at a price -35.0% from the 52-week high of $8.98. The transaction is notable for his prior trading history at SLNH: all 3 prior buys at this ticker (2023-12-13, 2023-12-14, 2023-12-15) posted positive 90-day returns, including a +25.3% 90-day gain on the oldest prior purchase. However, this must be weighed against deteriorating fundamentals: the company reported -26.2% annual revenue decline and a net loss of $-5,254,000.00 in the latest quarter, with $12,549,000.00 quarterly revenue and negative full-year net income. The purchase occurs in a stock that is up +120.4% over the past 30 days and +102.8% over 90 days, suggesting the buy follows sharp recent appreciation rather than initiation at depressed levels.