Why Middleby Stock Popped 20% This Morning
Shares of oven maker Middleby Corporation (NASDAQ: MIDD) surged in morning trading Wednesday, topping gains of 20% in response to a big earnings beat.
The shares are rapidly retracing those gains, however. As of 1:10 p.m. EST, Middleby is still up, but only by 5%. So, who's right? The folks who bought Middleby shares by the fistful this morning, or this afternoon's much more cautious stock consumers?
Middleby stock was on fire this morning, and it's still pretty hot this afternoon. Image source: Getty Images.
Source Fool.com
