New CIO and QXO Bid Send GMS Stock Flying Above $$100—Home Depot Joins Race

Quick overview

Amid a wave of acquisition interest and a leadership shake-up, GMS Inc. (NYSE: GMS) surged over 33% this week, outpacing a sluggish broader market.

Buyout Bids Drive Explosive Rally

GMS Inc. shares delivered a standout performance last week, boosted by takeover rumors and fresh earnings. The stock jumped 11% on Thursday, initially stalling near the 200-day simple moving average (SMA) before vaulting an additional 25% on Friday.

The rally was triggered by an unsolicited acquisition proposal from QXO Inc., offering $95.20 per share in cash—a valuation of nearly $5 billion. That offer represented a significant premium over Thursday’s close and immediately stirred investor enthusiasm.

GMS Stock Chart Daily – Closing Above $100

On Friday, GMS shares surged past $100 to touch $105 intraday—just shy of their all-time high of $105.66 set in November 2024. The move confirmed bullish technical momentum after the price reversed from support at the 50-day SMA (yellow) earlier in the quarter. A doji candlestick above that moving average had already signaled a potential reversal in trend.

GMS Stock Chart Daily – Closing Above $100

Potential Bidding War Emerges

Adding further excitement to the mix, Home Depot has reportedly entered discussions to acquire GMS as well, raising the possibility of a competitive bidding process. While Home Depot’s stock dipped slightly (-1%) during the last quarter, the prospect of a deal has amplified interest in GMS.

The news comes at a time when market sentiment is fragile due to geopolitical tensions and broader economic caution. Yet GMS has defied the macro environment thanks to its strategic value and M&A buzz.

Earnings, Leadership Bolster Sentiment

In parallel with the acquisition interest, GMS released a solid quarterly earnings report showing strong revenue growth despite a slight dip in net income. Additionally, the company appointed Angie Brown as Executive Vice President and Chief Information Officer (EVP & CIO), reinforcing leadership continuity and investor confidence.

These developments have helped sustain upward momentum in GMS stock during an otherwise flat week for U.S. equities.

Conclusion: With shares rallying more than 33% for the week and trading near record highs, GMS Inc. has returned to the spotlight. A bidding war between QXO and Home Depot now seems possible, positioning GMS as a key focus for both traders and long-term investors in the weeks ahead.

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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