Toymaker Funko surges on activist push for sale

Funko Inc FNKO.O shares advancing 26% to $5.57, about a 10-month high, early Fri after activist investor Pleasant Lake Partners disclosed a ~10% stake and urged the co to explore strategic options, including a sale

FNKO shares tracking biggest one-day pct gain since May

The activist push comes as the toymaker, known for its pop culture collectibles, has struggled with declining revenue for the past two years

Through Thurs close, FNKO shares had surged 30% YTD, but were still nearly 70% below their 52-week intraday high of $14.15

Analysts expect Everett, Washington-based co's Q4 rev to fall 11% to $260.7 mln and for break-even adj earnings vs $0.08 profit a yr ago, per LSEG