Why Unilever Stock Jumped as Much as 10% Today
Shares of Unilever (NYSE: UL) rose as much as 10% on May 31. The gains follow news that the consumer staples giant has added Nelson Peltz to its board of directors. Although this isn't likely to change anything about the company right away, if history is any guide, it could lead to a positive outcome for shareholders.
Unilever has been struggling for a few years. Although it has an enviable portfolio of brands, including Dove and Hellman's, growth has lagged behind what many of the company's peers have been able to achieve. To be fair, there has been a lot going on at the company, including a change of corporate structure and the rise of a new CEO.
But based on the stock-price action over the recent past, investors seem to believe that there have been more missteps than successes. That came to a crescendo in early 2022, when news leaked that Unilever was looking to make a big acquisition.
Source Fool.com
