Five Below Stock Is Tumbling Wednesday: What’s Driving The Action?
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Shares of value retailer Five Below Inc (NASDAQ:FIVE) are diving Wednesday after the company announced a CEO transition and provided updated guidance for the second quarter. Multiple analysts downgraded the stock and slashed price targets following the announcements.
What To Know: Five Below announced that Joel Anderson stepped down from his roles as president and CEO to pursue other interests. Anderson will also step down from the company’s board.
COO Kenneth Bull has been named interim president and CEO, effective immediately. Five Below co-founder, non-executive chairman and former CEO Thomas Vellios will assume the role of executive chairman on an interim basis to support …
Full story available on Benzinga.com
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