By Kuldip K. Ambastha
On the trading day of Friday, February 3, 2023, the stock price of Nordstrom Inc. (JWN), an American retail company, rose by +24.8% per share. One of the biggest and most prominent non-insider shareholders decided to increase his stake in Nordstrom Inc., potentially in advance of a reformist, shareholder activist campaign. This shareholder has not initiated talks in recent days with the leadership of Nordstrom Inc. That said, potential reforms may include personnel changes at the board level. The company’s next earnings report will be on Thursday, March 2, 2023.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in JWN.
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