Cava Group (CAVA) tumbled late Monday after CEO Brent Schulman and several other key executives and administrators disclosed inventory gross sales of Cava inventory within the wake of the Mediterranean-themed restaurant chain’s post-earnings spike to report highs.
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CEO Schulman offered 210,504 shares for $24.87 million. Ted Xenohristos, Cava co-founder and chief idea officer, offered 98,490 shares for $12.387 million. CFO Patricia Tolivar offered 5,000 shares for $628,175. Board member James White offered 1,500 shares for $190,770.
A belief linked to board member David Bosserman offered 5,000 shares for $627,550.
Cava Inventory Takes Curler Coaster Journey
Cava inventory fell 6.8% in after-hours buying and selling. Shares climbed 3.1% to 125.80 in Monday’s common session.
On Friday, Cava skyrocketed 19.6% after second-quarter earnings spiked 183% with income progress selecting as much as 35%, each beating analyst views.
12 months up to now, Cava inventory has skyrocketed practically 193%.
Cava got here public at 22 a share in June 2023.
Please observe Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for inventory market updates and extra.
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