Planet Green Holdings (NYSEAMERICAN:PLAG) stock is taking off on Tuesday as investors take note of the Chinese tea company.
So why are shares of PLAG rising higher today? The news boosting shares comes from a filing with the U.S. Securities and Exchange Commission (SEC). In it, we learn of insider buying that has investors excited.
Bin Zhou, Director and CEO of Planet Green Holdings, recently picked up 1.32 million shares of PLAG stock. The company CEO paid $2.60 for each share of the stock. It’s also worth noting that he has a more than 10% stake in the company and holds direct ownership of his shares.
Following news of insider buying, PLAG stock is experiencing heavy trading. As of this writing, more than 8 million shares of the penny stock have changed hands. That’s quite the jump from its daily average trading volume of about 68,000 shares.
Keeping this in mind, here’s what potential traders of PLAG stock need to know about the company.
- Planet Green Holdings is a Chinese tea company that also makes use of artificial intelligence (AI).
- The company uses AI to assist with its product development.
- That includes planning plant extractions, research, development, production, and sales.
- It was founded in 1994 and joined the New York Stock Exchange in 2009.
- The company’s market capitalization is $40.427 million.
PLAG stock was up 20% as of Tuesday afternoon.
Investors looking for more hot stock market news today are in luck!
We’ve got all the latest stock market coverage that traders need to know about for Tuesday. That includes the latest for shares of Lucid Motors (NASDAQ:LCID), Camber Energy (NYSEAMERICAN:CEI), and Aurora Cannabis (NASDAQ:ACB). You can learn all about that news at the links below!
More Tuesday Stock Market News
- LCID Stock Dips Tuesday Despite ‘Electric’ Lucid Event Update
- Camber Energy Alert: What’s Going on With New Meme Favorite CEI Stock Today?
- Aurora Cannabis Price Predictions: Where Is ACB Stock Going After Earnings?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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Read More: Penny Stocks — How to Profit Without Getting Scammed