Galaxy Next Generation Inc (OTCMKTS: GAXY) is likely to head for the top in the market at the opening bell this morning, and for good reason. A Form 4 filing with the SEC shows that the CEO of the company has invested quite a bit of his own money into an increased stake in the company. Here’s what’s happening:
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GAXY Stock To Rocket As CEO Files Form 4
As mentioned above, a Form 4 was filed with the SEC this morning, surrounding Galaxy Next Generation. According to the form, Gary Lecroy, CEO at GAXY, recently purchased 2,013,740 of his company’s common stock.
The purchase took place at an average price of $0.0096, representing an aggregate value of $19,331.90.
The Form 4 comes after a bit of recent positive news. Most recently, the company announced that it has entered into a partnership with an anti-bullying company known as Stand4Kind. Through the partnership, GAXY will have the ability to open a new stream of revenue while offering anti-bullying training and education in schools across the United States.
Prior to the Stand4Kind announcement, yet another Form 4 was filed, showing that Magen McGahee, COO and EVP, filed a Form 4, announcing that she had put more of her own skin in the game on the stock.
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The Bottom Line
Over the past several months, Galaxy Next Generation has made some pretty significant moves, improving the prospect of the company. As the potential for revenue climbs, insiders in the stock see opportunity, and are putting more of their own skin in the game to take advantgage of it.
When we see a strong of news and insider buying, there’s a strong probability that the stock will climb. All in all, GAXY stock is one to pay close attention to.
Disclosure. CNA Finance, parent company to Alpha Stock News, has a monetary relationship with a third party that resulted in the publication of this article!
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