The Dollar Tree stock (NASDAQ: DLTR) has been on an exponential rise since September 24 this year after taking a sharp dive towards the end of August. In the last month, the stock has moved up +28.28 (28.01%).
The bull trend has received a big boost after an activist investor by the name of Mantle Ridge acquired a $1.8 billion stock in the company to effect some changes the investor believes will propel the store to greater heights.
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To help stock traders eying the Dollar Tree stock, Invezz has created a brief article on what it is and the best places to buy it.
To find out more, please continue reading.
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What is Dollar Tree stock?
Dollar Tree stock is the stock of Dollar Tree Discount Store Company and it trades on NASDAQ under the symbol NASDAQ: DLTR.
The Dollar Tree was formerly known as the Only $1.00 and it is an American-based chain of discount stores. It is headquartered in Chesapeake, Virginia and it operates over 15K stores spread across the US and Canada.
In September this year, Dollar Tree announced that it would start selling items priced above $1 something the activist investor who just bought a $1.8 billion stake in the company is vouching for.
Should I buy the NASDAQ: DLTR stock today?
The NASDAQ: DLTR is one among the few store stocks that have shown great prospects of high returns in the future owing to its continued price rise and promising growth prospects. Therefore, it is a fantastic stock to buy.
DLTR stock price prediction
The DLTR stock is expected to continue with its bullish trend especially after the activist investor invested billions into the company to ensure the store starts selling items worth more than $1.
$DLTR stock social media coverage
$DLTR shares are swinging to the upside after activist investor Mantle Ridge acquired a $1.8B position in its stock. Mantle Ridge has been building its position in the company since the fall with the intention of making improvements at Family Dollar. https://t.co/vVDGoWd6NI pic.twitter.com/QE1OYg7JFj
— Yahoo Finance Plus (@yfinanceplus) November 15, 2021
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