InvenSense Inc (NYSE: INVN)
InvenSense was off to a relatively rough start to the day today, and for good reason. The CEO of the company offloaded a good chunk of shares just before earnings. Nonetheless, minutes go, the stock spiked in a big way before the shares were halted. Below, we’ll talk about what we’re seeing from the stock, why, and what we can expect to see ahead.
INVN Spikes Big
As mentioned above, InvenSense was off to a rough start to the day today, and for good reason. The CEO offloaded a good chunk of shares ahead of earnings, insinuating that the report isn’t going to be positive. Nonetheless, minutes ago, the stock climbed in a big way before shares were halted. At the moment (3:21), INVN is trading at $7.47 per share after a gain of $0.60 per share, or 8.73%.
Why The Stock Is Climbing
As always, when we noticed the spike in value, the CNA Finance team went digging for a reason for the movement. Unfortunately, we haven’t been able to dig up anything just yet. There is one story going around, and it may be an acquisition.
Earlier in the day, INVN announced that it is exploring strategic alternatives. While this news didn’t cause much movement when it broke, it seems as though investors are starting to take note. One of the strategic alternatives that investors are often looking for is the prospect of an acquisition.
What We Can Expect To See Ahead
In the case of InvenSense, we’re talking about a stock that’s tough to call at the moment. Strategic alternatives are great. However, with the CEO selling a big chunk of shares just before earnings, I have to speculate that earnings won’t be positive. Nonetheless, we’ll be watching the story closely as it unfolds and suggest that you do the same.
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