STON Stock: 31.33% Increase Explanation

By Amit Chowdhry ● April 16, 2021
  • The stock price of Stonemor Inc (NYSE: STON) increased by 31.33% today. This is why it happened.

The stock price of Stonemor Inc (NYSE: STON) increased by 31.33% today. One of the biggest reasons why the stock price increased is due an SEC Form 4 that shows a major insider stock purchase.

The Form 4 shows that Axar Capital Management, LP acquired 5,522,732 shares at a price of $2.20. And now Axar Capital Management has 88,633,045 shares of the company — representing 75.16% ownership.

And the $2.20 purchase price imputed a 33.33% upside to the company’s stock price compared to the previous close.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.