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MeetMe Inc. At 35% Of Avg Mon Vol Within 30 Minutes - Insider Buying?

|Includes:MeetMe, Inc. (MEET)

I'm relatively new to investing and MeetMe (NASDAQ:MEET) has reached 35%, or 90K shares, of the monthly volume average within the first half hour of the opening bell today.

Insiders are given two days to file their purchase with the SEC - therefore, the filing deadline = same day as earnings release (Aug, 8th).

I was wondering if this is an indication of insider buying? Opening price was $1.97 per share and the trading price has already reached a high of $2.09. Whomever may be buying this stock doesn't seem worried about making purchases at prices above the 21 day moving average of $1.95.

Just curious. I'm interested in your feedback. Thanks!

**Update**

Just in case anyone is reading this today - I received a post on my article confirming that this was not a surge due to insider purchasing.

Brian Harvey, head of investor relations, informed a user yesterday (Aug6th) that insiders are currently in a lock-out period and cannot purchase shares until Thursday, Aug 9th, the day after earnings are announced.

I am still curious as to why the spike happened...

Disclosure: I am long MEET.

Stocks: MEET