Interactive Brokers shares jump as it secures spot in S&P 500
Thomas J. Shaw, President and CEO of Retractable Technologies Inc . (NYSE:RVP), recently acquired 8,113 shares of common stock, according to a recent SEC filing. The shares were bought at a weighted average price of $0.7473 per share, totaling approximately $6,062. The purchase comes as RVP’s stock has declined 31% over the past year, though it has gained 9% year-to-date. According to InvestingPro analysis, the stock appears undervalued at its current market cap of $22.3 million. Following this transaction, Shaw directly owns 15,261,367 shares. Additionally, he holds indirect ownership of 831,600 shares, which includes investment power over 500,000 shares as a trustee and voting control over the remainder through a voting agreement. The acquisition was made under a Rule 10b5-1 trading plan adopted on August 22, 2024. InvestingPro data reveals the company maintains a strong balance sheet with more cash than debt, though it’s currently experiencing rapid cash burn. Unlock more insights about insider trading patterns and 6 additional ProTips with an InvestingPro subscription.
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