Nordstrom stock surges after activist investor Ryan Cohen buys stake in retailer
Publishing timestamp: 2023-02-03 10:21:23
Summary
Ryan Cohen, the chairman of GameStop and a meme stock maven, has bought a major stake in Nordstrom, causing the stock to surge. Cohen is interested in board changes that could support cost cutting efforts and is focusing on former Bed Bath & Beyond CEO Mark Tritton, who is a Nordstrom board member. Nordstrom has reported lackluster holiday sales and cut its full-year guidance. Cohen has recruited director candidates as potential replacements for Tritton.
Sentiment: MIXED
Tickers: BBBY, GME, JWN, TGT, CHWY,
Keywords: nordstrom inc, bed bath & beyond inc, business news, retail industry, business, gamestop corp, markets, chewy inc, breaking news: business, target corp,