Abercrombie & Fitch Up In A Sea Of Red (ANF)

Steve Grasso just mentioned that the price action in Abercrombie & Fitch Co. (NYSE: ANF) today suggests that potentially something is going on behind the scenes, potentially related to a merger.

Last week, the retail space saw J. Crew (NYSE: JCG) go private for $43.50 per share in cash. If Abercrombie received the same going private multiple that J. Crew did, it would be worth around $60 per share.

At last check, shares of ANF were up 55 cents to $49.01, a gain of 1.1%.