Director Milne purchases 100,000 shares of AMLX at $2.20; stock down 89.9% from 52-week high of $21.82
Director George M Milne Jr purchased 100,000 shares at $2.20 on 2024-09-03, increasing his holdings by 13.2% to 858,571 shares. The purchase occurs at a severe discount: the stock is trading at -89.9% from its 52-week high of $21.82, though it has recovered 24.3% over the past 90 days and 11.7% over the past 30 days. The company is unprofitable with a net income of $-72,700,000.00 for the latest quarter and negative quarterly revenue of $-1,023,000.00, though annual revenue growth stands at 1612.9%. The combination of substantial insider accumulation at a deeply depressed valuation alongside extreme profitability losses presents a material disclosure event that warrants examination of whether this reflects conviction in a recovery thesis or other strategic considerations driving the transaction.