Why Is Barnes & Noble (BNED) Stock Down 16% Today?


  • Barnes & Noble Education (BNED) stock is down on Monday after a recent rally.
  • That came alongside interest from Greenhaven Road Investment Management.
  • This firm already made an offer for BNED earlier this month.
BNED Stock - Why Is Barnes & Noble (BNED) Stock Down 16% Today?

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Barnes & Noble Education  (NYSE:BNED) stock is down on Monday as the college and university campuses bookstore company’s shares come off of a spectacular rally on Friday.

Shares of BNED stock underwent a 126.3% rally on Friday, which came alongside heavy trading of its shares. With that type of movement, it makes sense that investors are seeing Barnes & Noble Education give up some of its gains from the prior day of trading.

The rise in price for Barnes & Noble Education stock comes after Greenhaven Road Investment Management expressed its intention for a transaction with the company. It’s worth noting that this firm holds a 9.9% stake in BNED stock.

Greenhaven Road Investment Management made an $84.5 million recapitalization offer to Barnes & Noble Education earlier this month. However, that offer was rejected. Even so, it doesn’t look like the firm is giving up on a deal with Barnes & Noble Education just yet.

How This Affects BNED Stock Today

Barnes & Noble Education shares are falling on Monday with heavy trading. That has the stock down 16.2% while some 12.5 million shares change hands. For perspective, its daily average trading volume is about 3 million shares. The stock is also down 76.4% since the start of the year.

Investors will want to keep reading for more of the most recent stock market news.

We have all of that info ready to go with our stock coverage for Monday! A few examples include what’s happening with Wix (NASDAQ:WIX), Red Lobster and Nvidia (NASDAQ:NVDA) today. All of that news is available at the following links!

More Monday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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