Lots of pre-market volume (at least for CODI) and action on the open at $11.88, but it all looks like small trades.
I'm guessing someone pumped it last night or early this a.m., or we have some insider trading going on ahead of some news.
You know, I recall that CODI ran up when they almost closed a deal to acquire another portfolio business. When that deal wasn't able to close, the stock traded off.
On possible explanation for the recent bump up is that CODI might be close to closing on another acquisition. We know they have the cash and are in the market. It's not beyond the realm of possibility.
Here is something about CODI but still does not explain the move very well...
Actually, I was thinking "insider" more broadly than a Form 4 insider ... I was thinking more like "Martha Stewart" insider activity, based on a pending announcement that us mere mortals aren't deemed important enough to be informed of.
And as of 12:00 ET, volume is already 2x normal.