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

March 3, 2021 10:53 am
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Michaels Companies's Stock Price And Volume Action

Michaels Companies's (NASDAQ: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.

If you're looking for timely and concise explanations of why a stock is moving, check out Benzinga Pro. Subscribers get ‘Why Is It Moving' alerts as soon as our research team identifies the cause of the price action in a stock. Click here to learn more.


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