DISH Network Corp (NASDAQ: DISH)
DISH Network wasn’t having the best of days in the market today. While the stock opened the day in the green, it quickly found its way to the red. After a short recovery, it went on a fall that seemed like it was going to last all day. However, minutes ago, the stock started to spike, quickly making it back to the green. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching for with regard to DISH ahead.
What We’re Seeing From DISH
As mentioned above, DISH Network wasn’t off to the most amazing of days in the market today. In fact, after opening the trading session in the green, the stock took a dash for the red. We saw a slight recovery, then more downward movement. Unfortunately, it looked like the stock was going to close the day in the red. Nonetheless, minutes ago, it started to soar. At the moment (11:27), DISH is trading at $60.98 per share after a gain of $0.12 per share (0.20%) thus far today.
Why The Stock Is Spiking
As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains on DISH. As soon as we got the alert, the CNA Finance team started digging to see what was causing the movement. While the company has released no fundamental news that would lead to such gains, we believe we’ve found the rumor that is the cause.
At the moment, we’re seeing a rumor all over social media that DISH Network will soon be acquired. The rumor is not vague like most that we see come down the line. In this case, it is rumored that Verizon will be the buyer and they will pay $80 per share. However, it’s important to keep in mind that the rumor is unconfirmed at the moment.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching DISH closely. In particular, we’re watching for any confirmation of this rumor. While it is more detailed than most rumors we come across, it is also unconfirmed. Nonetheless, if confirmation does come down the line, this will be a massive return for shareholders. We’ll keep an eye on the news and bring it to you as it breaks!
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