Carlos Slim's Control Empresarial Buys More PBF Energy

The standout insider transaction of the day comes from Carlos Slim's investment company, Control Empresarial de Capitales S.A.

In another big move, the billionaire's firm revealed an $8.7 million purchase of PBF Energy $PBF shares via a Form 4 filing. 

When one of the world's richest men starts putting serious money to work, it's a signal worth watching closely.

Slim and Control Empresarial have been accumulating shares in PBF all year.

Here’s The Hot Corner, with data from November 27, 2024:

In another Form 4, the chairman and CEO of Truist Financial Corporation $TFC, William Rogers Jr, revealed an acquisition of 34,180 shares, equivalent to $1.6 million.

And do you remember all the insider buying in solar stocks recently?

For now, it appears the insiders in SEDG, NOVA, ENPH, and ARRY have more or less picked the bottom in their stocks.

Solar stocks have been enjoying a nice rebound rally this week.

Here’s Sunnova Energy $NOVA marked up to show the insider buy on November 19:

NOVA is up about 60% in the week since it was reported. If we reclaim the VWAP from the September high, with a 30% short interest, I think this one keeps squeezing. 

Be sure to read our latest report on solar stocks that we dropped on Tuesday.