Capri Holdings(CPRI) Shares Soar 31.09% on Versace Acquisition Rumors

Capri Holdings(CPRI) shares surged by 31.09% today, marking a significant rebound after the stock price plummeted to its lowest level since May 2020, with an intraday decline of 4.97%.

One of the key factors influencing Capri Holdings' stock price is the potential acquisition of the Versace brand by Prada. Reports suggest that Prada is close to acquiring Versace for approximately $1.38 billion. This news has sparked investor interest and speculation, leading to fluctuations in Capri Holdings' stock price as investors react to the potential impact of the deal on the company's market position and future prospects.

Additionally, there has been notable bullish option activity in Capri Holdings, with a high volume of calls traded. This indicates a positive market sentiment and expectations for the stock, as investors anticipate potential gains and increased demand for the company's shares.

Furthermore, the acquisition of a new stake in Capri Holdings by National Bank of Canada FI has also contributed to the stock's movement. This development has likely influenced investor perception and confidence in the company, leading to increased trading activity and price volatility.