Lululemon Higher After Report Citing Potential Private Equity Interest

Lululemon Athletica inc. LULU shares are trading higher by $1.30 (2.4 percent) at $54.44 in Thursday's session.

The rally is being attributed to an article in the seldom heard from WWD. Before the open, WWD published an article citing potential private equity interest.

At this time, no additional information has come out regarding the supposed bid for the struggling retailer.

After a higher open, Lululemon's stock ran to $55.64 before reversing course. That high falls into the large price void that was created when the stock was trashed after its Q1 report, falling from $66.30 to $50.76 on March 30.

So far, the ensuing decline has found support ahead of the upper-end of Wednesday's range ($53.28) as $53.80 stands as the low for the day as of 11:15 a.m. EST.