Why At Home Group Stock Rocketed Higher Today
Home decor retailer At Home Group (NYSE: HOME) is getting acquired by private equity firm Hellman & Friedman, according to an official press release from the company. The buyout price is $36 per share, a healthy premium to where the stock traded yesterday. Because of this, At Home stock rocketed 16% higher today to trade around its buyout price.
The acquisition caps off a wild ride for shareholders over the past 14 months. In March 2020, At Home stock cratered to just around $2 per share, as investors assumed the COVID-19 pandemic would decimate this brick-and-mortar retail business. However, quite the opposite happened -- stuck-at-home consumers were interested in updating their livings spaces and At Home was a beneficiary. Net sales soared 27% during the company's fiscal 2021.
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Source Fool.com
