Nordstrom Stock Surges 30% on Report Activist Investor Has a Stake

Shares of retailer


were surging early on Friday after a report that activist investor Ryan Cohen has taken a big stake in the company.

Nordstrom (ticker: JWN) was up 31% to $27.65 in premarket trading. The Wall Street Journal reported that Cohen, known for sparking big jumps in meme stocks such as


a few years ago, has become one of the top five nonfamily shareholders of the company.

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