MAT - Why Mattel Stock Was Surging This Week
2024-07-26 15:16:00 ET
Shares of Mattel (NASDAQ: MAT) , the toymaker known for brands like Barbie and Hot Wheels, were flying higher this week after the company received a buyout offer. According to Reuters, Mattel was approached by a private equity firm.
The stock surged on that news on Monday, then pulled back on Tuesday as enthusiasm cooled off before jumping again on Wednesday after it reported better-than-expected second-quarter profits on Tuesday night.
According to data from S&P Global Market Intelligence , the stock was trading up 17.9% for the week.
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Why Mattel Stock Was Surging This Week