Why Dillard's Stock Skyrocketed 46% at the Open Today
Shares of U.S. retailer Dillard's (NYSE: DDS) rose as much as 46% in early trading on Monday. That massive price increase didn't stick around for long, with the stock up "only" by a third or so at 10:30 a.m. EDT today. Clearly, investor sentiment turned higher here in a big way, a shift that was largely driven by Ted Weschler.
Don't feel bad if you don't know the name Ted Weschler off the top of your head. But you are highly likely to know his boss, Warren Buffett, and his employer, Berkshire Hathaway. Weschler is one of Buffett's key lieutenants and handles a portion of Berkshire's investments. When he invests in something, with his own cash, it can have a big impact on the stock. And that's exactly what happened with Dillard's today.
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Source Fool.com
