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Why Dollar Tree Stock Jumped Today

TheMotleyFool

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Shares of Dollar Tree (NASDAQ: DLTR) surged 14% on Monday after a respected investment firm took a large stake in the company.

Activist investor Mantle Ridge wants to drive changes at Dollar Tree that it believes will make the retailer's stock more valuable, according to The Wall Street Journal. To jump-start that process, Mantle Ridge acquired a $1.8 billion stake in Dollar Tree.

Mantle Ridge reportedly wants Dollar Tree to strengthen its lagging Family Dollar chain, which it purchased in 2015. To assist with strategy development, Mantle Ridge enlisted Richard Dreiling, who previously served as CEO of rival Dollar General.

Source Fool.com

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