LMP Automotive (NASDAQ:LMPX) Trading 10.5% Higher on Insider Buying Activity

LMP Automotive Holdings (NASDAQ:LMPX)’s share price was up 10.5% during mid-day trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $17.81 and last traded at $15.38, approximately 2,486,919 shares traded hands during mid-day trading. An increase of 44% from the average daily volume of 1,722,780 shares. The stock had previously closed at $13.92.

Specifically, Director Elias Nadim Nader purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were purchased at an average price of $5.75 per share, for a total transaction of $28,750.00. Also, CEO Samer Tawfik purchased 342,959 shares of LMP Automotive stock in a transaction on Thursday, December 5th. The shares were acquired at an average cost of $5.36 per share, for a total transaction of $1,838,260.24. Insiders have bought a total of 651,236 shares of company stock valued at $5,252,760 in the last quarter.

About LMP Automotive (NASDAQ:LMPX)

LMP Automotive Holdings, Inc provides an e-commerce and facilities-based retail platform for consumers to buy, sell, rent, subscribe for, or finance pre-owned and new automobiles in the United States. The company offers pre-owned automobiles, and rentals and subscriptions for pre-owned and new automobiles.

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