GMS Inc (GMS) Soars 31.88% W/W as 2 Building Giants Engage in Bidding War

GMS Inc. (NYSE:GMS) is one of the .
GMS Inc. (NYSE:GMS) jumped by 31.88 percent week-on-week to finish at $100.27 versus the $76.03 on June 13, as investors snapped up shares following news that it was being targeted for acquisition by two home building giants.
Last week, GMS Inc. (NYSE:GMS) confirmed receipt of QXO Inc.'s (NYSE:QXO) offer to acquire the company, saying that it will review the bid and make a decision that aligns with the best interests of the company and its shareholders.
Meanwhile, The Wall Street Journal reported that Home Depot also offered to acquire GMS Inc. (NYSE:GMS), making it the second firm to bid for GMS Inc. (NYSE:GMS) and engage in a bidding war with QXO Inc. (NYSE:QXO). Home Depot, however, declined to comment on the acquisition reports.
A construction worker using a drill while installing steel framing in a building.
Founded in 1971, GMS operates a network of more than 320 distribution centers and operates nearly 100 tool sales, rental, and service centers across the United States and Canada.
While we acknowledge the potential of GMS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.

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