NovaGold Resources must be doing something right. Both George Soros and John Paulson are making big buys in the gold explorer.
Soros is buying $75 million in stock, while Paulson intends to buy $100 million.
Before you jump in too, you should know the company is issuing new shares for these guys at $5.50 each... meaning they'll have an instant gain of about 25% based on today's closing price. Not a bad deal if you can get it.
Those of you without billionaire hedge-fund connections could look to buy on a pullback near $6 or a strong breakout to new 52-week highs over $7.