Abercrombie & Fitch Retreats From Highs Amid M&A Talk

Abercrombie & Fitch Co. ANF shares are trading higher by $0.85 at $13.52 in Wednesday's session.

On Tuesday evening, Reuters reported the company was working with Perella Weinberg Partners to handle takeover interest.

That news instigated a spike to $15.15 in pre-market trading. However, it hasn't come close to that level as it peaked at $14.35 early in the session and reversed course. It has continued to make new lows for the session with the current one standing at $13.47.

In order to fill the void in price and reach the top of the range from Tuesday's session, Abercrombie & Fitch would need to fall to $12.89.