Unusual Buying Pattern on $TKNO ~ CTRN CEO buys 766% more stock

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• Unusual buying pattern on $TKNO

• $CTRN insiders acquire 766% more stock

$TKNO insiders purchased $15 million this week

​ This one is a little strange for me. ​$TKNO is currently up almost 50% at the time of writing this.

CEO purchased 80,000 shares the same day as the announcement of closing the private placemen and the buying of 12 million shares from Telegraph Hill Partners. ​

Telegraph Hill Partners is dominant in $TKNO, with 25,620,792 shares valued at approximately $67.9 million.

They own a substantial 62.76% of the company, indicating a significant influence over the company's operations and decisions.

Historically, President and CEO Stephen Gunstream has made only smaller purchases of 18k, 3k, and 4k shares.

An 80k share purchase is unusual for him, increasing his ownership by 50%.

​ Also, CFO Lowell Matthew’s ownership jumped up by 46%.

Stock price went from $1.24 -> $2.00.

​My view is that Stephen Gunstream’s large purchase of 80k and Telegraph Hill's purchase is not a coincidence. He knew the effects it would have on the price of the stock, or else he wouldn't have taken such a large bet on it.

This is easy money for him and for all the other insiders on this trade.

$CTRN CEO acquires 766% more stock

Insider Transactions:

Interim CEO Seipel Kenneth Duane:

• Acquired 282,644 shares at $19.03 each on July 12, 2024.

• Total investment: Approximately $5.38 million.

• Increase in ownership: 766%, bringing his total holdings to 319,562 shares.

Fund 1 Investments, LLC:

Consistent purchases over the past 8 months.

• Notable transactions include:

  • 97,000 shares at $21.29 on June 26, 2024.

  • 74,190 shares at $21.75 on June 17, 2024.

  • 75,015 shares at $21.74 on June 14, 2024.

  • 141,438 shares at $30.89 on March 4, 2024.

• Total investment over 8 months exceeds $15 million.

Gradual increase in ownership with a steady accumulation of shares, reflecting strong confidence in $CTRN's prospects.

Failure to Deliver (FTD) Data:

Recent Spike in FTDs:

Significant increase towards the end of the period.

Possible reasons include:

• High trading volumes leading to settlement issues.

• Short squeeze scenarios forcing rapid buybacks.

• Market manipulation or speculative trading activities.

• Regulatory or compliance issues within brokerage firms.

Volatility and Gamma Exposure (GEX):

Volatility Index (SPIKE):

• Gradual decrease in volatility from late April to late June 2024.

• Indicates a stabilizing market sentiment for $CTRN.

In plain English:

The Volatility Index (SPIKE) chart: This chart shows how "jumpy" or unpredictable the stock has been. The line is going down over time, which is a good thing.

It means that from April to June, the stock became more stable and less likely to make sudden, big moves. This usually happens when investors are feeling more confident about a stock.

Daily GEX (Gamma Exposure):

• GEX has been negative for most of the period, indicating a bearish sentiment.

• Despite negative GEX, the price of $CTRN has shown resilience with some fluctuations.

• Recent uptick in price around mid-July 2024 suggests potential reversal or increased buying pressure.

The Daily GEX (Gamma Exposure) chart: This one's a bit trickier, but here's the gist:

• The purple bars below the center line show that big investors were positioned in a way that could push the stock price down. This is what we call a "bearish" sentiment.

• But here's the interesting part: Even though these investors were set up for the price to fall (shown by the purple bars), the yellow line (which is the actual stock price) didn't always follow suit. It held its ground pretty well.

• And look at that uptick in the price around mid-July. This could mean that despite the negative pressure, more people started buying the stock, pushing the price up.

Conclusion:

The recent insider activity at $CTRN is noteworthy. Interim CEO Kenneth Duane Seipel significantly increased his stake, while Fund 1 Investments has been consistently buying shares. This suggests they see potential in the company's future.

There's been a recent uptick in failed-to-deliver shares, which is worth keeping an eye on. It could indicate some market pressures, but it's not necessarily cause for alarm.

On a positive note, the stock's volatility has decreased, and the price has been moving up despite some contrary indicators. This could be a good sign, but it's always wise to be cautious.

For anyone interested in $CTRN, it's worth monitoring further insider transactions, market trends, and any company announcements. As always, do your own research before making any investment decisions.

On the Radar 📡 

1. Luxurban Hotels Inc (LUXH): Multiple insider purchases of this penny stock, with the CFO increasing their ownership by 28%.

2. Strata Skin Sciences, Inc (SSKN): Multiple insiders, including the CEO and a director, made substantial purchases. The director's purchase increased their ownership by 19%.

3. US Bancorp (USB): A new insider purchase of 10,000 shares by Director Gillan Aleem, worth $449,900.

4. Bexil Investment Trust (BXSY): A purchase that increased ownership by 82%, though the total value was relatively small at $283,097.