Utz Brands, Inc. (UTZ) is experiencing a remarkable surge in pre-market trading, with its stock price soaring 6.43% on Wednesday. This significant uptick follows reports of multiple insider share acquisitions, signaling strong confidence in the snack food company's future prospects and building upon the previous day's impressive 5.54% gain.

The insider buying spree, reported after Tuesday's market close, involves key executives and major shareholders increasing their stakes in Utz Brands. Notable transactions include share purchases by CEO Howard A. Friedman, CFO William J. Kelley Jr., Director Dylan Lissette, and EVP and Chief Legal Officer Theresa Robbins Shea. Additionally, two significant shareholders, Series R and Series U of UM Partners LLC, have also bolstered their positions in the company.

Market participants often interpret such widespread insider buying activity as a strong positive signal, suggesting that those with the most intimate knowledge of the company's operations and future prospects see value in the stock at current price levels. This vote of confidence from insiders appears to be the primary driver of Wednesday's pre-market rally, as investors react positively to the apparent optimism of Utz Brands' leadership and major stakeholders regarding the company's strategic direction and growth potential.