Tag #Celestica

What is the primary driver of Celestica's recent stock price surge, and what are the immediate implications of the executive share sales?

Celestica Inc.'s CEO and four other executives sold \$212 million in shares over the past three months, capitalizing on a dramatic 1000 percent increase in the company's stock price since mid-2023. This surge is primarily attributed to Celestica's pivotal role in supplying AI data center infrastructure. The company's fiscal 2024 profits jumped to \$426 million, up from \$244 million in 2023 and \$146 million in 2022.