VOXX International Corporation (VOXX) is making headlines on Tuesday, with its stock skyrocketing over 83% following the announcement that the company is considering a sale. The company’s board of directors is actively exploring methods to maximize shareholder value, leading to the evaluation of various options, including a full company sale, a sale of specific segments, operational improvements, or other strategic transactions. To support this process, VOXX has established a strategic transactions committee and secured the services of Solomon Partners as its financial advisor and Bryan Cave Leighton Paisner as its legal advisor.
While a sale is being considered, it’s important to note that there is no guarantee that any transaction will ultimately materialize. The announcement comes amidst increased investor interest in VOXX, as evidenced by a recent significant investment from Gentex Corporation (GNTX). A Form 4 filed with the Securities and Exchange Commission (SEC) reveals that Gentex has acquired 3,152,000 shares of VOXX at an average price of $5 per share, further fueling speculation about a potential sale.
For investors looking to gain exposure to VOXX, there are various avenues beyond direct stock purchase. Exchange-traded funds (ETFs) that track the Consumer Discretionary sector, which VOXX belongs to, can provide indirect access to the company’s shares. Alternatively, investors can allocate a portion of their 401(k) to strategies that aim to acquire shares in mutual funds or other instruments within the Consumer Discretionary sector. These strategies offer diversification and exposure to a broader range of companies within the sector, enabling investors to participate in the trends of the consumer discretionary market.
