MSP Recovery (NASDAQ:LIFW) stock is on the rise Monday despite two instances of insider selling of the healthcare recoveries and data analytics company’s shares.
The first instance comes from Cano Health (NYSE:CANO), a 10% shareholder of the company. This saw it sell 15,200 shares for $1.30 each, 16,733 shares for $1.29 each, and 19,692 shares for $1.22 each from Jan. 17 to Jan. 19. That leaves it with 7,722,429 shares of LIFW stock after these sales.
Elliot Cooperstone is the second insider and 10% shareholder to sell LIFW stock. He sold 94,013 shares for $2.2769 each, 5,987 shares for $2.9212 each and 100,000 shares for $1.9125 each on Jan. 17 and Jan. 18. The investor still holds 865,206 shares of LIFW following these sales.
How This Affects LIFW Stock
While insider selling typically causes a stock’s price to drop, that isn’t the case with LIFW shares today. That may be due to the price of shares sold by Elliot Cooperstone. Those were sold for well above the recent price of LIFW.
This news also brings with it heavy trading of LIFW stock this morning. As of this writing, more than 6.4 million shares have changed hands. That’s already well above the company’s daily average trading volume of about 3.2 million shares.
LIFW stock is up 22.3% as of Monday morning.
Investors seeking out even more of the latest stock market stories will want to stick around!
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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.
