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Skullcandy Inc (SKUL) Stock Soars on ‘Going Private’ Talk


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Skullcandy Inc ( SKUL ) stock was up on Wednesday following talk of it going private.

skullcandy185 Rick Alden, the founder an director of Skullcandy, is interested in taking the company private . A 13D filed by  Ptarmagin, LLC revealed that Alden may have one of his affiliates attempt a purchase SKUL shares.

The filing revealed that Alden is interested in having all or some of Skullcany's shares purchased. If he can't accomplish this, then Alden is interested in taking the company private. Ptarmagin has a 12.7% stake in SKUL, reports SeekingAlpha.

"Given the recent selloff in shares of [Skullcandy], and subsequent sharp discount multiple on the stock, such a transaction could indeed look attractive," Rommel Dionisio, an analyst at Wunderlich Securities, told MarketWatch .

SKUL shares were up 16% as of Wednesday morning.

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