In an initial public offering, or IPO, there are so many chances for something to go wrong, or at least to be less than perfect.
But every once in awhile a company goes public and everything falls into line.
That seems to be the case for 1 IPO, which is already beginning to climb!
The definition of an IPO is the first sale of stock to the public by a private company.
As you can imagine, this is a grand undertaking in most cases…
It’s usually a small, growing company looking for the capital to expand. They utilize the services of an investment bank and go through the SEC before the day they go public.
Without getting into the cumbersome details, it’s no simple feat.
But for Triumph Bancorp, Inc. (TBK), it sure seems like it…
After going public within the past month, this Southwest bank just recently announced the closing of the sale of 1,005,000 shares of its common stock pursuant to the full exercise of the over-allotment option.
All of the shares for the IPO were purchased, and a big part of that was due to the heavy involvement of the insiders…
In a span of 5 days, there were 18 instances of insider purchases of stock in TBK from 15 different officers and directors, including the CEO, CFO, and EVP.
Those purchases on or near the price of $12 per share totaled a value of well over $3 million!
That shows a lot of confidence in a new company from the people who know the most about it.
And whether it’s from the heavy insider purchasing or natural market action, TBK has already begun its ascent.
After an original price of $12 per share, which TBK has stayed above throughout this entire process, the price per share is now reaching up above $14. And it’s even been as high as $14.88!
At that height, TBK had gained by 24% from the first day shares were publicly traded to this week.
Now, this stock looks very promising at the moment, but IPOs can be very volatile through the beginning stages of life.
Right now, I would keep an eye on TBK and wait for my indicators to give me the buy signal. Should the opportunity present itself, I will bring this pick directly to readers of Penny Stock Insider when the time is right to buy shares.
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