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Why Gap Stock Is Roaring Ahead Today
Gap (NYSE: GPS) shares were surging 12.4% at 10:27 a.m. ET on Wednesday on speculation that activist investors might target the clothing retailer. According to TheFly.com, Activist Insight suggests “an activist might agitate for changes at Gap,” with the Athleta brand a potential spinoff or sale target. Similar comments were recently made by Adrienne Yih, an analyst at Barclays, who suggested falling sales could invite activist interest.
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