Why Dollar Tree Stock Surged More Than 8% Higher Today
In the eyes of investors, one of the most encouraging actions a company's management team can take is to confidently load up on its own shares.
That's what happened late Wednesday with budget retailer Dollar Tree (NASDAQ: DLTR), and the market showed its gratitude by bidding the company's share price up more than 8%. This was a far more impressive performance than the S&P 500's (SNPINDEX: ^GSPC) 0.1% tilt into the black.
The manager making the buys was no less than CEO Stewart Glendinning, who disclosed in a regulatory document filed near the end of Wednesday's trading session that he purchased a total of 17,000 shares of Dollar Tree's common stock.
Source Fool.com
