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Here's Why QXO Stock Shot Higher Today

TheMotleyFool

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Here's Why QXO Stock Shot Higher Today: https://g.foolcdn.com/editorial/images/855898/mergers-and-acquisitions.jpg

About a month ago, QXO (NYSE: QXO) telegraphed that at least one acquisition would likely be coming in the next six months. The building supply company just announced one, and the market likes it.

QXO shares soared as much as 12.5% on the news this morning. As of 10:45 a.m. ET, the stock was still higher by 11.3% on the news.

Image source: Getty Images.

Source Fool.com

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