🟢 LULU is trading 6.1% up today after Elliott builds $1 billion stake and eyes CEO change

LULU is trading 6.1% up now at $220.45 after reports that activist investor Elliott Management has built a $1 billion stake in Lululemon and is working on a potential CEO role.

• The activist involvement includes working with former Ralph Lauren executive Jane Nielsen for a potential leadership position.
• This news follows last week’s announcement that current CEO Calvin McDonald will step down.
• Investors are betting that the activist involvement and leadership change could accelerate a turnaround and reignite significant growth.