Crypto
TeraWulf Stock Slumps as Insider Sales Mount Amid Bitcoin Mining Woes
TeraWulf Inc., a company involved in bitcoin mining, has seen its stock price drop by -7.11% due to concerns over profitability and regulatory risks. The decline is partly attributed to insider sales, with CEO Paul B. Prager selling 137,500 shares for about $2.35M.
Prager still controls roughly 40.37M WULF shares through indirect holdings, but the sale has raised concerns among traders. Director Walter E. Carter also sold 130,626 shares for about $1.98M on August 31st, leaving him with 229,090 shares.
The recent Form 144 filing signals that an insider or major holder intends to sell restricted or control securities under SEC Rule 144, potentially adding more supply to the market.