Griffon Corp (GFF) Blows Up

Bought this company on Chuck Carnevale‘s analysis, and it just kept going down. But ever since the latest earnings it’s been creeping up and today BOOM! Up 20% so far:

GFF had already had broke out earlier in May, but this news sent it into the stratosphere:

Griffon (GFF said Monday the board has started a review of strategic alternatives, including a potential merger or sale of assets.

The multinational conglomerate has retained Goldman Sachs & Co. (GS as its financial adviser and Dechert as legal counsel to assist in the review process.

There can be no assurance the review process will result in any transaction, the company said.

Shares of Griffon rose more than 21% in recent Monday morning trading. Top 10 trending stock on the US Exchanges.

Yield: 1.52%

PE Ratio: 10.8

Market Cap: 1.39B

Frequency: Quarterly

Cash Amount: $0.09