Billion-Dollar Buyout Sends Foot Locker Stock Surging

Short interest has been on the rise for FL

Emma Duncan

Managing Editor

May 15, 2025 at 10:27 AM

Sneaker retailer Foot Locker Inc (NYSE:FL) is surging this morning, up 82% at $23.49 at last check, after news broke that peer Dick's Sporting Goods (DKS) will be buying the chain. The unanimous $2.4 billion -- or $24 per share deal -- implies an 86% upside to Foot Locker stock's current trading price. On the heels of the news, DKS is down 14% at $179.62.

Foot Locker has been trading at nearly 15-year lows in recent weeks, still sporting a nine-month, 28% deficit, even after today's impressive lift. The 20-day moving average moved in as a level of support this past week, however, aiding in a small boost in FL shares. Today's surge puts the equity toward its best single-day percentage pop ever.

Short interest has risen 7.8% during the past two reporting periods, which now accounts for more than 16% of the stock's total available float. At the stock's average pace of daily trading, it would take shorts three days to buy back their bearish bets.

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