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Why StoneMor Stock Skyrocketed Today

Why StoneMor Stock Skyrocketed Today

Shares of StoneMor (NYSE: STON) soared 50% on Wednesday after the owner and operator of cemeteries and funeral homes struck a deal to be acquired by Axar Capital Management. Axar is StoneMor's largest investor. The private equity firm owns roughly 75% of StoneMor's stock.