Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) shares jumped 17.74% in after-hours trading Wednesday to $1.87 after a Securities and Exchange Commission filing disclosed CEO, Interim CFO and Chairman Huan Liu purchased 200,000 shares of Class B common stock through a private placement.

Insider Buy Signals Confidence

Liu acquired the shares at $2.00 per share on Monday, totaling $400,000.

According to a separate SEC filing, the transaction lifted Liu’s aggregate beneficial ownership to 203,456 shares, representing a 6.4% stake based on 2.95 million Class A shares outstanding. Liu acquired the shares for investment purposes and has no plans for mergers, asset sales or board changes.

CTNT closed the regular session down 1.55% at $1.58, according to Benzinga Pro.

Liu’s buy at $2.00, above the stock’s last closing price, is generally interpreted by ...