Dollar Tree (DLTR.US) stock jumped over 13.0% after activist investor Mantle Ridge secured a stake of at least $1.8 billion in the discount retailer. The New York investment firm is looking to push the discount retailer to take action to boost its share price by improving its Family Dollar chain and pricing strategy, The Wall Street Journal reported, citing sources familiar with the matter. The news prompted Deutsche Bank to upgrade the stock to “buy” from “hold,” citing potential improvements. Deutsche Bank believes that today's news may help Dollar Tree stock rise more than 30%.
Dollar Tree (DLTR.US) stock launched today's session with a bullish price gap and hit a new all-time high at $132.00 which is strengthened by 127.2% external Fibonacci retracement of the last downward wave. If current sentiment prevails, the next target for buyers is located at $142.60 and is marked with 161.% retracement. However if sellers manage to regain control, then nearest support lies at 120.30. Source: xStation5
Daily Summary: A Rollercoaster Ride in the Commodities Market🚨Oil Drops 7%; Gold Rallies Over 2%💥
Alstom shares slump 25% in panic mode after the business guidance cut
US OPEN: Bloody end to the quarter. Intel loses nearly 1/3 of its value, and the crypto market shakes off a hack on the largest exchange.
Market Wrap: Binance Hack Shakes Markets. European Equities Under Pressure