Jeffrey Jagid, the Chief Executive Officer of Atlantic International Corp. (NASDAQ:ATLN), has made a substantial investment in the company's stock, purchasing shares worth approximately $8.8 million. According to a recent filing with the Securities and Exchange Commission, the transaction took place on June 18, 2024, signaling a strong vote of confidence from the company's top executive.
The SEC filing revealed that Jagid acquired a total of 3,735,169 shares of common stock at a price of $2.36 per share. This purchase increases his direct ownership in the company to the same number of shares, reflecting a significant commitment to Atlantic International Corp.'s future.
Investors often keep a close eye on insider transactions such as these, as they can provide insights into the leadership's view of the company's valuation and prospects. A CEO buying a substantial amount of stock is typically seen as an optimistic sign that the company's management believes in the firm's strategic direction and potential for growth.
Atlantic International Corp., classified under the Services-Help Supply Services sector, has its headquarters in Woburn, Massachusetts, and is incorporated in Delaware. The company, formerly known as SeqLL, Inc., has been actively involved in the trade and services industry.
As the market processes this new information, shareholders and potential investors will be watching closely to see how this insider transaction might influence the company's stock performance in the coming weeks and months.
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