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Whole Foods (WFM) Stock Gains on Possible Sale Speculation

NEW YORK (TheStreet) -- Shares of Whole Foods Market (WFM) were climbing on heavy trading volume early-afternoon Friday as one of the company's largest shareholders has met with potential activist investors to explore making changes to the natural and organic foods grocery chain, Bloomberg reports, citing sources.

The changes could include replacing members of its current management and a potential sale of the company, the sources added.

The shareholder recently met with activist investment funds due to concerns regarding the company's direction, particularly its poor inventory and management, high costs and inability to effectively target millennials, Bloomberg noted, citing sources.

The stock was briefly halted following the news but has since resumed trading.

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