As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Carvana, a filing with the SEC revealed that on Tuesday, See Remarks Paul W. Breaux purchased 15,000 shares of CVNA, at a cost of $27.59 each, for a total investment of $413,850. Breaux was up about 20.7% on the purchase at the high point of today's trading session, with CVNA trading as high as $33.30 in trading on Friday. Carvana is trading up about 6.4% on the day Friday. This buy marks the first one filed by Breaux in the past year.
And at Solo Brands, there was insider buying on Wednesday, by Chief Financial Officer Somer Webb who bought 70,372 shares for a cost of $4.17 each, for a total investment of $293,116. This buy marks the first one filed by Webb in the past year. Solo Brands is trading up about 14.5% on the day Friday. So far Webb is in the green, up about 33.2% on their buy based on today's trading high of $5.55.
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