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Why Nordstrom Stock Popped Today

Jeremy Bowman, The Motley Fool
·2-min read
Why Nordstrom Stock Popped Today

Shares of Nordstrom (NYSE: JWN), the department store chain, were rocketing higher on reports that activist investor Ryan Cohen had taken a stake in the company. Cohen is the co-founder of Chewy and may be best known for helping to send GameStop stock skyrocketing in 2021 as he took a stake in the company and pushed for a board shake-up and other changes. According to The Wall Street Journal, which first reported the news, Cohen has amassed a stake in the company that makes him one of the five biggest shareholders outside the Nordstrom family.

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