FINANCE

Cava Stock Tumbles; Key Insiders Sell Shares

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.





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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.

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