Fluidigm Corporation (NASDAQ: FLDM)
Fluidigm Corporation is having an erratic day in the market today. At the opening bell, the stock was trading red before rocketing to the green. Since then, we've seen movement in both directions as the stock tries to figure out just where it wants to go. Nonetheless, big news came out today and it seems to be flying under the radar. Below, we'll talk about what that news is, what we're seeing from FLDM, and what we'll be watching for ahead.
Adage Capital Partners Shows Huge Show Of Faith In FLDM
As mentioned above, big news came out today with regard to Fluidigm Corporation today, but that news seems to be flying below the radar at the moment. In fact, if it wasn't for our partners at Trade Ideas, we may have not seen it at all. Nonetheless, we are seeing a big show of confidence in the company from Adage Capital Partners
Early this morning, Adage Capital Partners filed a 13G surrounding FLDM. A 13G filing is required by the SEC any time a passive stake in a company of 5% or more is taken. In the filing this morning, we learned that Adage Capital partners purchased 1,546,209 shares of the company, giving it a stake of 5.29%. This is a massive show of confidence, and when the investing community starts to notice it, chances are that the stock will rise in a big way.
What We're Seeing From The Stock
In general, when we see positive news like this, the value of the stock the news surrounds goes up. However, in the case of FLDM, it seems as though investors simply haven't seen the news. In fact, while the stock should really be headed up, it is taking a dive as we speak. At the moment (11:39), FLDM is trading at $4.96 per share after a loss of $0.08 per share or 1.49% thus far today.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on FLDM. In particular, we're going to be watching for more news coverage on the 13G as we expect that when the news hits the mainstream, the stock could see some strong upward movement. Nonetheless, we'll continue to follow the story and bring the news to you as it breaks!
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