We recently published a list of 10 Stocks Outperform Broader Market on Wednesday. In this article, we are going to take a look at where DollarTree Inc. (NASDAQ:DLTR) stands against other stocks that outperform broader market on Wednesday.

The stock market finished in the red territory on Wednesday as investors sold off positions to mitigate risks from a fresh round of tariffs due in the next few days.

The tech-heavy Nasdaq fell the hardest, down 2.04 percent, followed by the S&P 500, down 1.12 percent. The Dow Jones declined by 0.31 percent.

According to President Donald Trump, all cars made outside of the US would be slapped with a 25-percent tariff beginning April 2.

Meanwhile, let us take a look at the 10 companies across mixed sectors that defied a broader market downturn, having registered modest to strong gains during the trading session.

To come up with the list, we considered only the stocks with $2 billion market capitalization and $5 million in trading volume.

A shopper browsing through a discount retailers merchandise aisle filled with a wide variety of items.

DollarTree Inc. (NASDAQ:DLTR)

DollarTree saw its share prices grow by 3.08 percent on Wednesday to close at $69.21 apiece as investors cheered news that it was officially divesting its struggling Family Dollar unit for roughly $1 billion, an 88-percent discount from the $8.5 billion it allocated in 2015 to acquire the business.

In a statement, DLTR said it reached an agreement with Brigade Capital Management and Macellum Capital Management to acquire Family Dollar, which it believed would best unlock value for DLTR shareholders and position the for-sale unit for future success.

“Under the experienced, dynamic leadership of Family Dollar President Jason Nordin, and with the financial support of Brigade and Macellum, Family Dollar will be well-positioned for growth as a private company. With the support of a dedicated team, Family Dollar will be able to strengthen its commitment to providing affordable and essential goods to customers so they can do more with less,” said DLTR CEO Mike Creedon.

The transaction is expected to close in the second quarter of the year.

Overall, DLTR ranks 7th on our list of stocks that outperform broader market on Wednesday. While we acknowledge the potential of DLTR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as DLTR but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.