UWMC DD – insider purchase

Sooooo an insider recently bought 50,000 more shares of UWMC. By recently, I mean Monday and Tuesday of THIS WEEK. Robert Verdun bought 25,000 shares on 6/7 at 9.1 and 25,000 more shares on 6/8 at 9.15, yesterday.

Today the stock jumps 9%!!! Coincidence?

Mr. Verdun is such an insider that any trades he makes require a special report to the SEC.

https://sec.report/CIK/0001841894/Insider-Trades

But Mr. Verdun is not just any insider – he is a member of the board of directors.

https://www.wsj.com/market-data/quotes/UWMC/company-people

https://investors.uwm.com/governance/board-of-directors/person-details/default.aspx?ItemId=f8e70ac0-b851-451d-8411-975c6d81464c

As you can see, Robert Verdun is no ape. He also bought 60,000 shares back on 3/3/2021 – at 7.97 share price!

But it’s this week’s purchases which are most interesting. $227,500 (25,000 x 9.1) plus $228,750 (25,000 x 9.15) means his 50,000 shares, a $456,240 investment is now worth $500,000 just a day later!!!

Why is this so important? Well, what happened right before 6/7? Like, the business day before that?

That was the day of a little something called the preliminary initial Russell inclusion list. On the preceding Friday, 6/4, UWMC didn’t make the cut by a technicality. Surely there was communication with Russell about this. Is it likely Mr. Verdun knew something on 6/7 and 6/8, prior to the share price SPIKE ON 6/9?

The board is not only the entity who approved the share buyback, but also would be intimately involved with the communication with Russell. And Mr. Verdun is one of the few people who MIGHT know a little something about that.

Maybe it’s a coincidence. Maybe. Or maybe Friday will bring us even more good news!

Today is just the beginning! LFG!!!

Position: 21,600 shares at 7.26

Edit: fixed link and thanks for my first gold!

submitted by /u/Joe6102
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