American Bitcoin Shares Jump as Insider Buys Millions of Dollars Worth of Stock

American Bitcoin Corp. (NASDAQ:ABTC) gapped up before the market opened on Monday after insider buying activity.

The stock had previously closed at $6.47, but opened at $7.35. American Bitcoin shares last traded at $7.2530, with a volume of 421,812 shares.

DIRECTOR Justin Mateen purchased 162,438 shares of the business's stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $6.19 per share, with a total value of $1,005,491.22.

This trade represents a 49.24% increase in their ownership of the stock. Director Mateen also purchased 144,543 shares of American Bitcoin stock in a transaction dated Wednesday, August 5th. The shares were purchased at an average price of $6.40 per share, with a total value of $925,075.20.