Goodyear Tire & Rubber Co has become the latest target of noted activist investor Elliott Management. The US investment management firm, which holds a 10% stake in the 125-year-old company, cited poor margin performance versus rivals, weak board oversight of management, and ill-timed tire distribution deals as reasons for its activist stance, Yahoo Finance reported. Elliott is trying to force a sale or other action on Goodyear's 1,000-plus retail stores and install of five new board members. Goodyear shares surged 21% on Thursday following the revelation and rose another 2% to $14.52 on Friday. Elliott said it believes Goodyear could be worth $32 a share under its plan. Yahoo Finance also cited sources that said the company could even be spending too much to operate the legendary Goodyear blimp. During its first quarter of 2023, Goodyear saw its sales inch up just 0.7% year over year while losing $101 million in the period.