Insider Weekends: Co-founder of Westrock Coffee Purchases Shares

In a market that is rightfully concerned about the continued rise in interest rates, it is fascinating to see the insiders of certain cyclical companies continue to buy stock. They truly hold a variant perception and are looking beyond the near-term pain we are likely to experience or suffer from the usual biases of anchoring and tunnel vision that insiders often do. We once again saw insider purchases at the middle-market investment bank B. Riley (RILY), the diversified REIT American Assets Trust (AAT) and mortgage lender Rocket Companies (RKT). B.Riley has diversified into countercyclical businesses through acquisitions where they can participate in the restructuring of businesses during recessions and CEO Jay Farner of Rocket Companies would have us believe that they have diversified away from just mortgage lending and now provide a full suite of lending products. The company that however caught my eye this week was Westrock Coffee (WEST), a company that recently went public through a merger with a SPAC. Westrock is a vertically integrated coffee and tea company that provides white labeled beverages to restaurants and other retailers. Think of them as the Sysco (SYY) or U.S. Foods (USFD) of coffee. Unlike most deSPAC companies that drop...

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