Cava Group (CAVA) tumbled late Monday after CEO Brent Schulman and several key executives and directors disclosed stock sales of Cava stock in the wake of the Mediterranean-themed restaurant chain’s post-earnings spike to record highs.
↑
X
Dow Jones Hits All-Time Highs; Sprouts, Netflix, MercadoLibre In Focus
CEO Schulman sold 210,504 shares for $24.87 million. Ted Xenohristos, Cava co-founder and chief concept officer, sold 98,490 shares for $12.387 million. CFO Patricia Tolivar sold 5,000 shares for $628,175. Board member James White sold 1,500 shares for $190,770.
A trust linked to board member David Bosserman sold 5,000 shares for $627,550.
Cava Stock Takes Roller Coaster Ride
Cava stock fell 7% in after-hours trading. Shares climbed 3.1% to 125.80 in Monday’s regular session.
On Friday, Cava skyrocketed 19.6% after second-quarter earnings spiked 183% with revenue growth picking up to 35%, both beating analyst views.
Year to date, Cava stock has skyrocketed nearly 193%.
Cava came public at 22 a share in June 2023.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
YOU MAY ALSO LIKE:
Why This IBD Tool Simplifies The Search For Top Stocks
Catch The Next Big Winning Stock With MarketSmith
Want To Get Quick Profits And Avoid Big Losses? Try SwingTrader
Best Growth Stocks To Buy And Watch
IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today