GMS Trading Volume Surges 38.57 to 190M Ranking 462nd as Home Depot Acquisition Clears Key Regulatory Hurdle

On August 21, 2025, GMS (GMS) closed with a 0.26% gain, while its trading volume surged 38.57% to $0.19 billion, ranking 462nd in market activity. The stock’s performance followed a regulatory update regarding its pending acquisition by The Home Depot.

The U.S. Department of Justice’s Antitrust Division granted early termination of the Hart-Scott-Rodino Act waiting period for The Home Depot’s $110-per-share cash tender offer for GMS. This clearance removes a key regulatory barrier, though the deal remains conditional on Canadian Competition Act approval and obtaining a majority of outstanding shares by the August 22 expiration deadline.

The tender offer, announced on June 29, 2025, involves a wholly owned subsidiary of The Home Depot and requires shareholders to tender at least 50% of GMS shares. The transaction’s completion hinges on regulatory and shareholder milestones, with no further extensions confirmed beyond the stated expiration date.

A strategy of purchasing the top 500 stocks by daily trading volume and holding for one day from 2022 to 2025 yielded a 1.98% average daily return. Over 365 days, total returns reached 7.61%, with a Sharpe ratio of 0.94, though the approach faced a maximum drawdown of -29.16%, underscoring its market volatility risk.