Nikada
Barnes & Noble Education (NYSE:BNED) showed a 77% gain at 11:45 a.m. on Wednesday, after being up more than 150% earlier in the session. The stock has already been halted by the Nasdaq multiple times due to volatility.
Volume on Barnes & Noble Education (BNED) was at over 182 million shares, which is more than triple normal activity with more than four of trading still left. Options trading on Barnes & Noble (BNED) has also shot significantly higher over the last week, per Seeking Alpha data.
Last week, Greenhaven Road Investment Management LP disclosed a 9.9% activist stake in the retailer. Greenhaven said it continues to explore a possible transaction with BNED, including any required financing, and may continue to have talks with management and the board on business, strategies, capitalization, and operational issues, among other things.
With its FQ3 earnings report, Barnes & Noble Education (BNED) reported that retail gross comparable store sales increased by 8.8% for the quarter. Gross comparable course material sales increased by 14.1% and gross comparable general merchandise decreased by 4.6%. Retail gross margin as a percentage of sales was 20.3%, compared to 21.1% in the prior year period.
