$CPRI, the parent company of Michael Kors, has experienced significant stock volatility following the announcement of a blocked buyout deal with Tapestry, Inc. Initially, the stock traded at $35 when the buyout was announced, but it has since plummeted to around $20, reflecting a nearly 43% decline. This drop has raised questions among investors about the stock's fair valuation, particularly as it now trades at a low earnings multiple of 10x. Despite the downturn, some investors have noted a recent 40% return over two months, indicating potential for recovery. Trading volume for $CPRI reached 2.3 million shares, compared to its average volume of 200,000, suggesting increased market activity. Analysts speculate on the possibility of private equity interest in taking $CPRI private, while others question the long-term viability of its brands amidst the current turmoil.