Is It All Coming Together for DraftKings?

JC Parets
March 11, 2022

We continue to see insider buying in a lot of the same names.

And the Baker brothers are making an appearance on The Hot List, as we suggested during our recent webinar. 

Today, we have the second insider purchase by a B Riley Financial $RILY executive in the past few weeks. Chairman and CEO Bryant Riley just added almost $2 million of shares.

Since late February, we’ve also seen a handful of other company executives file Form 4s to disclose purchases in RILY stock.

With the stock off about 30% from its recent all-time high, the C-suite thinks it’s a good investment here.

DraftKings $DKNG is in the same category, as member of the board of directors Hany Nada just made his second purchase this month in the amount of $872,500. Another director, Harry Sloan, purchased shares in late February as well.

With news of the Major League Baseball lockout coming to an end, there seems to be a lot of buzz about the stock lately.

We covered DKNG in the first issue of The Inside Scoop.

Here’s The Hot List, with data through March 10, 2022:

We highlighted the notorious Baker brothers and their interest in biotech stocks during our "How To Profit From The Hot Corner" presentation on Wednesday night. 

Well, Baker Bros. Advisors reported in a 13D filing that its stakes in Incyte Corp. $INCY and Seagen $SGEN are up to 16.5% and 25.7%, respectively. 

Members of Congress continue to buy stock, as Rep. Virginia Foxx of North Carolina disclosed a handful of transactions in a recent Periodic Transaction Report.

Among Foxx’s purchases were a lot of staples and grocery stocks, including Archer-Daniels-Midland $ADM, Tyson Foods $TSN, Flowers Foods $FLO, and General Mills $GIS. 

She also purchased $50,000 to $100,000 of the large-cap natural gas pipeline operator Kinder Morgan $KMI.

Last but not least, we continue to see bullish options flow in a variety of commodity-related stocks.

The agricultural input and fertilizer conglomerate Mosaic Company $MOS is making an appearance on today’s list, as investors purchased leaps with a $70 strike and an expiration date all the way out in 2023.

Have a great weekend. We'll be back Monday with more insider action.

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And as always, feel free to reach out with any questions. We love hearing from you!

Allstar Charts Team.

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