Why NN Stock Exploded 22% Higher Today -- Then Lost It All

A funny thing happened on the stock market today. Diversified industrial products maker NN (NASDAQ: NNBR) announced that it will be selling its life sciences division for $825 million, and the stock exploded higher on the news -- up more than 22% in early trading. But then it gave it all back, and more.

As of 12:30 p.m. EDT, NN stock is trading 2.9% below where it closed last week.

Image source: Getty Images.

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Source Fool.com