Activist Investors Surge in Volatile Markets

Activist investing is surging globally in April 2026 despite volatile markets, driven by undervalued assets and record M&A activity, according to a top JP Morgan executive. Darren Novak, JP Morgan’s Global Co-Head of Shareholder Engagement, attributes the rise to market uncertainty creating opportunities for activists to push for strategic changes in undervalued firms. Record M&A activity is amplifying activist campaigns, as investors target companies mid-transaction to demand better terms or alternative strategies for shareholder value. Evolving tactics, including digital engagement and coalition-building, are forcing corporate boards to adopt more proactive investor relations strategies to counter activist pressure. Boards now face heightened scrutiny, with activists leveraging volatility to reshape governance, operations, and long-term value creation amid economic instability.