CSPR - Hot Stocks: CSPR and GGPI rally on M&A enthusiasm but OTLY and EVGO sink on downgrades
M&A news boosted Casper Sleep (NYSE:CSPR), Gores Guggenheim (NASDAQ:GGPI) and other names in pre-market trading Monday as deal enthusiasm swept Wall Street. Meanwhile, Oprah Winfrey-backed Oatly (NASDAQ:OTLY) and popular EV charging-station chain EVgo (NASDAQ:EVGO) slid on analyst downgrades. Gainers Casper Sleep (CSPR) woke up investors with a pre-market announcement that it will be acquired by Durational Capital Management LP at 6.90 a share. That’s a 94% pop from the stock’s Friday closing price. CSPR shot up 91.3% to $6.79 on the news. Meanwhile, Special purpose acquisition company Gores Guggenheim (GGPI) soared 13.2% in pre-market trading to $14.50, adding to Friday’s 15.82% rally on continued enthusiasm for its upcoming merger with Swedish electric vehicle manufacturer Polestar. Separately, Dollar Tree (DTLR) was trading some 6% higher to $120 on a Wall Street Journal report that activist investor Mantle Ridge LP has taken at least a $1.8B stake in the retailer and is
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Hot Stocks: CSPR and GGPI rally on M&A enthusiasm, but OTLY and EVGO sink on downgrades