Why Kate Spade & Co. Stock Jumped Today

The stock began surging this afternoon, when The Wall Street Journal reported that the company was exploring a sale. Activist hedge fund Caerus Investors had been pushing for a sale, noting the stock’s decline since a 2014 peak, as it’s lost half of its value since then.The Journal said buyout efforts were at an early stage, as it’s working with an investment bank to reach out to potential buyers.