Why Grocery Outlet Stock Soared 11% Higher Today

Grocery Outlet (NASDAQ: GO) has had its struggles lately, but you wouldn't know that from its stock's performance on Monday. Investors eagerly snapped up shares of the food retailer to send them to a more than 11% gain that trading session. The main catalyst in the rally was a chunky insider stock buy. In a regulatory filing, Grocery Outlet divulged that its CEO and chairman, Jason Potter, purchased 286,097 shares of the company's common stock last Thursday, March 19. The price was $5.90 per share, for a total outlay of just under $1.7 million. The buy-in more than doubled his stake; it now stands at 574,366 shares. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool