ACV Auctions shares surge 14.94% after-hours as director Robert Goodman buys $5.1M in stock signaling confidence.

ACV Auctions (NASDAQ:ACVA) surged 14.94% in after-hours trading following a significant insider purchase by Director Robert P. Goodman, who acquired 912,408 shares for $5.1 million at a weighted average price of $5.61. This transaction, disclosed via SEC filings, was interpreted by investors as a strong endorsement of the company’s future prospects, signaling undervaluation or anticipated positive developments. The move contrasts with the stock’s 35% decline seven days earlier after the company reported a $0.14 GAAP loss per share (worse than expected) and issued weak fourth-quarter and full-year guidance. While the insider buying directly aligns with the post-market rally, the broader context includes persistent volatility and underperformance relative to analyst expectations. The purchase’s timing and magnitude reinforced investor optimism despite recent operational challenges.