Insider Investment at Rite Aid

A week after trimming back its outlook for the current fiscal year, Rite Aid insiders are loading up on cheap shares:

[CEO] Mary Sammons and fellow board members Robert Miller and George Golleher purchased 1.48 million shares in open-market transactions this week. The price: $1 a share. Sammons bought 486,750 shares, while Miller and Golleher bought 500,000 shares a piece.

This is a significant vote of confidence by people who are "in the know" about this company's long-term potential. While I think it's going to take longer than I had hoped to turn a profit on this investment, I still expect I'll end up well in the black.