Nordstrom Stock Surges on Report Activist Investor Ryan Cohen Has a Stake
Shares of retailer Nordstrom took off early on Friday after a report that activist investor Ryan Cohen has taken a big stake in the company. The Wall Street Journal reported that Cohen, known for sparking big jumps in meme stocks such as GameStop a few years ago, has become one of the top five nonfamily shareholders of the company. “Nordstrom’s performance over the last decade begs for an activist role,” said analysts at William Blair, led by Dylan Carden, in a note.