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Why Skillz Stock Is Soaring Today

TheMotleyFool

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Shares of the mobile gaming platform company Skillz (NYSE: SKLZ) spiked this morning after the company reported in a filing that its CEO, Andrew Paradise, purchased 1.5 million shares of the company on Wednesday.

The stock is up by 14.7% as of 10:43 a.m. ET.

The company reported in a Form 4 filing yesterday that Paradise purchased the stock for $0.56 per share, bringing the total transaction amount to about $836,300. Investors love to see executives purchase shares of their own company because it shows that they are committed to the business and believe in its growth potential.

Source Fool.com

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