Why Nordstrom, Inc. Stock Was Sliding Today
Shares of Nordstrom, Inc. (NYSE: JWN) were heading lower today after the department store chain's founding family said it would suspend its efforts to take the company private.
The stock had spiked back in June when the controlling members of the Nordstrom said it would search for a private equity partner in order to take over the company and hasten its turnaround, but those attempts have come to an end for now.
As of 10:49 a.m. EDT, the stock was down 6.1%.
Source: Fool.com