Why Is It Moving? Analyzing The Upward Movement in Michaels Companies's Stock Today

Michaels Companies's Stock Price And Volume Action

Michaels Companies's MIK stock has been rising Wednesday, up 22.78% to a price of $22.11. The stock's current volume for the day is 27.18 million, which is approximately 562.44% of its previous 30-day average volume of 4.83 million.

Why It's Moving

Benzinga Pro's real-time breaking news service shows some insight into what is affecting shares: The Michaels Companies shares are trading higher after the company announced it has entered into an agreement to be acquired by funds managed by Apollo Global Management for $22 per share in cash.

Perspective On Recent Price Action

The moving average price of the stock over the past 50 days was $14.75 at the time this article was published. In the past fifty-two weeks, the stock price has been as high as $18.99 and as low as $1.0.

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