Abercrombie Investors Are Psyched To See CEO Mike Jefferies Walk Away

Teen retailer Abercrombie & Fitch's stock is up big this morning after the company's CEO Mike Jefferies announced he's stepping down.

Shares of Abercrombie were last trading up more than 6.1% in the early session.

You might interpret the stock price move as confirming investor lack of faith in Jefferies.

The retailer's stock has struggled for the ten years. The shares have slumped 38% in the last decade. This year alone the stock is down 15%.

Here's a five-day chart:

Here's the year-to-date chart:

And the ten-year chart: