What's Going On With Nordstrom (JWN) Stock?

Zinger Key Points
  • Nordstrom stock might be rising due to its connection to Macy's Inc., as an investor group offered $5.8 billion to buy Macy's.
  • Macy's news may potentially be influencing the market positively for similar retail and apparel companies like Nordstrom.

Nordstrom Inc JWN shares are trading higher by 5% to $17.16 Monday afternoon. Nordstrom stock might be rising due to its connection to Macy's Inc., after a WSJ report suggested an investor group report offered $5.8 billion to buy Macy's, potentially influencing the market positively for similar retail and apparel companies like Nordstrom.

What Investors Need To Know

An investor group, Arkhouse Management and Brigade Capital Management, is seeking to purchase Macy's for $5.8 billion, intending to make the struggling department store chain a private entity. Their offer, submitted on Dec. 1, proposes buying Macy's shares for $21 each.

Macy's has grappled with fierce competition from online retailers, leading to a substantial decline in its market value, dropping from $70 per share in 2015 to $17.39 recently...Read More

See Also: Federal Reserve Meets Wednesday: Will Powell Signal Rate Cuts In 2024?

According to data from Benzinga Pro, JWN has a 52-week high of $27.15 and a 52-week low of $12.88.

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