RE:RE:Insider buy's ( TMX ) Let's stop the ROT
Now here's some real insider buying:
A brief update is warranted today thanks to director John Brydson. Seemingly very confident in Penn West's looming transformation, he bought 450,000 shares yesterday at an average price of $1.28 (U.S.), almost doubling his holdings to 953,000 of Penn West's 502 million shares. Mr. Brydson joined Penn West almost exactly two years ago and it remains his first and only board seat at a public Canadian company. Now he is the largest shareholder on the board, ahead of chairman Rick George (former chief executive officer of Suncor Energy Inc. (SU: $33.96)), who owns 872,200 shares.
"Doubling his holdings" -- 450,000 * 1.28 US = 576,000 USD = 742,752 Canadian dollars.
Now that's impressive. There's a man putting his money at risk.
Give RMP a call and tell them that you want to see that kind of insider buying before you make another purchase and risk your hard-earned money with a company that hasn't paid you a dime.