SmartRent shares rise 14.48% intraday as insiders buy $524k in shares without selling.

SmartRent surged 14.48% intraday trading following a significant insider purchase by CEO Frank Martell, who spent $219,000 to acquire shares at $1.46 each, increasing his stake by 11%. This added to a prior $305,000 purchase at $1.37 per share, reflecting sustained confidence in the stock. Insiders collectively own 10% of SmartRent, valued at $28 million, suggesting alignment with shareholders. While the company reported a loss over the past year, the recent insider activity at prices near the current $1.45 level signaled optimism about future performance, driving the sharp intraday rally.