Shares in Insig AI PLC (AIM:INSG) surged as much as 13% in early trading after CEO Richard Bernstein increased his stake in the company.
Bernstein purchased 125,000 ordinary shares at 28.5 pence each on 5 June, bringing his total holding to 24 million shares, or just over 20% of Insig AI’s voting rights.
The purchase, disclosed under regulatory rules for company insiders, was seen as a vote of confidence in the company’s prospects.
Insig AI, which focuses on data science and machine learning solutions, has been positioning itself for growth in the AI-driven enterprise technology sector.
Investors appeared to welcome the move, interpreting the CEO’s share buy as a strong signal of belief in the company’s future performance and value. The stock's early spike reflects renewed interest in the business following the insider activity.
The stock settled 2p higher at 34p.