Pulmatrix was off to a rough day early on. That is, until minutes ago, when rumors broke of a potential takeover in the works. As a result of the rumor, investors got excited, pushing the stock up dramatically and prompting our partners at Trade Ideas to alert us to the movement. Currently (11:17), PULM is trading at $3.36 per share after a gain of $0.16 per share (5.00%) thus far today.
MYL May Make A Bid To Acquire PULM
As mentioned above, Pulmatrix was having a rough day in the market until a takeover rumor broke. The rumor suggests that Mylan may make a bid to acquire the company. What’s shocking here is the price at which the rumor suggests the acquisition may happen. In fact, the rumor suggests that MYL may pay more than $10 per share in the acquisition of PULM.
It’s important to keep in mind that we see these types of rumors in the market just about every day. The truth is that the vast majority of these rumors lack validity, and the stocks quickly fall as investors realize that. Nonetheless, this one is indeed causing excitement, and PULM is indeed flying as a result.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on PULM. In particular, we’ll be watching for any news associated with the potential acquisition. After all, if there is validity to these rumors, the acquisition will generate incredible value for shareholders. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
What Do You Think?
Is there any validity to the rumor that MYL will acquire PULM? Join the discussion in the comments below or on StockTwits!
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