Five Below is trading at $239.53, up 5.05%, in pre-market, with no clear September 29 company-specific catalyst identified. - Recent coverage points to stronger Q2 results, raised fiscal 2026 guidance and a $600 million buyback authorization announced earlier in September—not a new overnight catalyst. - Five Below appointed former Ulta CFO Scott Settersten to its board on September 23, but available reporting does not link the appointment to the rise. - The supplied market context shows mixed, modestly positive index moves; it does not establish a broad-market explanation.