Why Macy's Is Crashing Today
Macy's(M) The Motley Fool·2024-07-16 00:25
The struggling department store retailer just isn't interested in selling itself at any reasonable price.Shares of iconic department store chain Macy's (M -12.21%) are down 13.3% as of 12:01 p.m. ET today, according to data from S&P Global Market Intelligence, as acquisition talks with a pair of potential suitors have ended with no deal being made. For many investors, the prospect of a buyout was the last great hope for the struggling retailer.Macy's hard-to-get gambit backfiresThe backstory behind today's ...