Matt Frankel

That sounds like a lot, but he owns $210 million worth of shares and is the company's largest stockholder.

He increased his position by 0.5%.

But what I will say is, last time he aggressively bought shares, it happened during the late 2022, early 2023 period, and he did it as a series of buys.

It wasn't like he bought $50 million all at once.

He bought $1 million here, a few days later he bought another million, and so on.

If I remember right, the stock was about $6 a share.

It was about $6.

Even after the recent downturn,

it's still a triple from where he bought it.

If this turns into the first of a series of buys, it might take more notice.

But it is nice when companies and the executives who run them start putting their money where their mouth is.

It changes nothing fundamentally about the business.

Buybacks do that more than insider buying does.

But it is nice validation that they also think that the stock is cheap and want to do something about it to help their own wealth.

I have a few things to add.

Walmart, they've really become a master of omnichannel commerce, and it's really exceeded even my expectations.

I like the company a lot.

The CFO specifically called out the speed of the delivery platform as a big driver of their growth.

I can tell you firsthand, Walmart's delivery is fantastic.

It surprises me how efficient it is.