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Why Valaris Stock Is Surging Today

TheMotleyFool

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Shares of Valaris (NYSE: VAL) rallied more than 12% by 3 p.m. EST on Monday. Fueling the energy company's rise was news that an activist investor had boosted its stake in the offshore driller.

Luminus management unveiled that it now holds an 18.7% active stake in Valaris. That's up from a 4.5% interest in the offshore driller as of mid-June.

Image source: Getty Images.

Source Fool.com

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