GMS Trading Volume Surges 94.64% to $220M Jumps to 492nd as Home Depot Extends Tender Offer

On September 2, 2025, GMS Inc. (GMS) recorded a trading volume of $0.22 billion, marking a 94.64% increase compared to the previous day, ranking it 492nd in the stock market. The stock closed with a 0.04% gain.

The Home Depot Inc. (HD) extended its tender offer to acquire GMS at $110 per share until September 3, 2025, providing additional time to fulfill regulatory requirements under Canada’s Competition Act. As of the prior expiration date, 29.31 million shares, or 77% of GMS’s outstanding shares, had been tendered and not withdrawn. The acquisition remains conditional on final regulatory approvals.

Home Depot’s pursuit of GMS aligns with its strategy to expand its dominance in the professional contractor market, following its $18 billion acquisition of SRS Distribution. The Canadian Competition Bureau has already cleared the deal, signaling progress toward finalizing the transaction. The extended tender period reflects ongoing efforts to address remaining regulatory hurdles.

Recent corporate updates include GMS’s first-quarter fiscal 2026 earnings report and Home Depot’s second-quarter fiscal 2025 results, with the latter reaffirming its annual guidance. Shareholder activity for GMS has remained subdued, with no significant institutional trading reported in the provided data.

Backtest results indicate that the tender offer extension and regulatory clearance have driven increased trading interest in GMS, as evidenced by the surge in volume. However, the stock’s minimal price movement suggests limited immediate market optimism about the deal’s execution risks or valuation implications.