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Why Spectrum Brands Stock Was Rocketing Higher Today

TheMotleyFool

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Why Spectrum Brands Stock Was Rocketing Higher Today: https://g.foolcdn.com/editorial/images/711596/rocket-stock-chart-digital-meme-getty.jpeg

Shares of Spectrum Brands (NYSE: SPB) were surging 21.9% higher at 11:07 a.m. ET Friday morning after the consumer and home products company announced it was another step closer to selling off its hardware and home improvement (HHI) business for $4.3 billion.

While the development could be a good one for Spectrum, it's still an amazing jump in the share price. Could it be partly a case of mistaken identity?

Image source: Getty Images.

Source Fool.com

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