CandleFocus Argo Blockchain interim CEO buys 75k shares in insider deal
2025-02-03
Author: Content Editor
Argo Blockchain's interim CEO, Jim MacCallum, has purchased over 70,000 of the company's shares in an insider transaction. The shares were bought on Nasdaq for prices ranging from $0.4550 to $0.4700 each. MacCallum spent around $34,625 on the shares. The purchase was disclosed as required by regulations, and Argo's shares on the London Stock Exchange increased by 2.27% after the news. This transaction comes just after Argo Blockchain announced that CEO Thomas Chippas will be stepping down. Argo has been facing challenges, including a net loss in Q3 2024 and a drop in revenue. The company recently raised $5.3 million through a share subscription to help with relocation and maintaining operations. In December, Argo reported a flat production rate of 39 BTC, marking a five-month low.
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