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Lone Pine Capital, a hedge fund managed by Stephen Mandel,
disclosed after Monday's market close a 5 percent stake in Lululemon Athletica inc. LULU
Shares of Lululemon opened for trading at $58.73 on Tuesday and quickly soared to an intra-morning high of $59.24. However, the stock quickly reversed direction and began declining.
After briefly dipping in to negative territory shares of Lululemon were trading higher by 0.62 percent at $57.99 by 10:11 AM ET. At the same time, the Dow Jones index was higher by 1.40 percent.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: Hedge FundsGeneralApparel, Accessories & Luxury GoodsConsumer DiscretionaryLone Pine CapitallululemonStephen Mandel
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