The Dow Jones closed slightly lower on Monday. When insiders buy or sell stock, it shows their confidence or concern about the company’s prospects. Investors and traders interested in penny stocks may consider this as a factor in their overall investment or trading decision.

Below is a look at some notable penny stock insider trades. For more information, see Benzinga insider trading Platform.

Earth Science Tech

• The trade: Earth Science Tech, Inc. ETS CEO Giorgio R Saumat acquired a total of 5,005,000 shares an average price of $0.01. Acquisition of these shares cost about 25.21 thousand US dollars.
• What’s up: The company’s stock is up 10% over the past six months.
• What Earth Science Tech does: Earth Science Tech Inc is a biotechnology company. The Company is engaged in the research and development of hemp cannabinoids (CBD), nutraceuticals, pharmaceuticals and medical devices. Its products include CBD Hemp Oil, CBD Capsules, CBD Pets, and CBD Chocolates.

Viviani Medical

• The trade: Viviani Medical, Inc. VANI Director Gregg Williams acquired a total of 2,040,494 shares at an average price of $1.08. The insider spent around $2.2 million to buy those shares.
• What’s up: The company posted a loss of $0.36 per share in FY22.
• What Vivani Medical does: Vivani Medical Inc is a pre-clinical stage biopharmaceutical company.

Formo worldwide

• The trade: Fomo Worldwide, Inc. FOMC CEO, Director Vikram P Grover acquired a total of 8,548,815 shares at an average price of $0.14. The purchase of these shares cost around 1.17 million US dollars.
• What’s up: The company agreed to acquire Business Media Solutions, Inc., a provider of online learning, digital marketing, educational content and platform management services.
• What Fomo Worldwide does: Fomo Worldwide Inc focuses on starting and accelerating businesses.

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