Hain Celestial Group Inc (NASDAQ: HAIN)
Hain Celestial Group was having what seemed to be a relatively normal day in the market today. As soon as the trading started for the session, the stock was in the green. However, it quickly fell to the red. From there, we saw some flat movement and a short attempt at a recovery. Nonetheless, things changed massively as the stock started spiking upward minutes ago. Below, we’ll talk about what we’re seeing from HAIN, why, and what we’ll be watching for ahead.
What We’re Seeing From HAIN
As mentioned above, Hain Celestial Group was having what seemed to be a normal day in the market. Starting the day in the green, falling to the red, and working to recover was the name of the game today. Nonetheless, the field changed minutes ago as the stock started to climb dramatically upward. Currently (11:20), HAIN is trading at $40.44 per share after a gain of $0.34 per share or 0.85% thus far today.
Why The Stock Is Climbign
In the case of HAIN, our partners at Trade Ideas sent the alert first. As soon as we got the news that the stock was on the run, the CNA Finance team started digging to see what was causing the movement. In this case, it didn’t take long at all to dig up the story. In our search, we were unable to find any fundamental news released by the company that would lead to such gains. However, we were able to find something interesting in the social space.
At the moment, it seems as though the gains on Hain Celestial Group are being caused by a rumor. The rumor is all over social media, stating that Pepsi is interested in acquiring the company. At this point, there has been no confirmation from either side that this is indeed the case. Nonetheless, it is exciting investors.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching HAIN incredibly closely. In particular, we’re interested in learning whether or not Pepsi is interested in acquiring HAIN. If this is the case, it could return incredible value to shareholders. However, this is yet another stock that seems to see these rumors quite often. So, don’t get your hopes up! Nonetheless, we’ll be watching the story closely and bringing it to you as it breaks!
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[Image Courtesy of Wikimedia]