Why United Natural Foods Stock Was Climbing Today

Jeremy Bowman, The Motley Fool
·2-min read
Why United Natural Foods Stock Was Climbing Today

Shares of United Natural Foods (NASDAQ: UNFI) finished up 11.4% today as the company announced a renegotiation of its term loan and also seemed to benefit from a short squeeze as it was one of several heavily shorted stocks that jumped today. United Natural Foods, a grocery wholesaler for chains like Whole Foods, said this morning that it had repriced its senior secured term loan facility, which reduced its interest rate by 50 to 75 basis points on $1.8 billion in debt due in 2026. While that news is a step in the right direction for UNFI, it seems unlikely to have driven the stock up double digits.