Why Dollar General Stock Unexpectedly Popped Today
It's been an abysmal year for Dollar General (NYSE: DG) shareholders, with shares down as much as 59% year to date. The stock actually hit its low for 2023 yesterday. But today is a much brighter day for investors, with Dollar General stock up 8% as of 10:30 a.m. ET.
Dollar General stock is up after the company announced that its current CEO is out, effective immediately. In his place, the company is bringing back former CEO Todd Vasos. In conjunction with this announcement, it also updated its financial guidance for the year. But the update wasn't all good.
Vasos was Dollar General's CEO from June 2015 through November 2022. Based on the stock's market-crushing performance during that time, investors are thrilled to have him back at the helm.
Source Fool.com
