3D Systems Corporation (NYSE: DDD) was off to a relatively rough day in the market today, spending most of the morning in the red. However, minutes ago, the stock quickly spiked into the green, and for good reason. A rumor surfaced, causing excitement among investors and prompting our friends at Trade Ideas to alert us to the gains. At the moment (10:34), DDD is trading at $18.14 per share after a gain of $0.13 per share or 0.72% thus far today.
DDD Gains On Takeover Rumors
As mentioned above, 3D Systems was off to a rough day in the market until minutes ago when the stock started to spike into the green. The gains are ultimately the result of rumors surrounding the company. Those rumors suggest that DDD will soon be taken over. However, like most rumors in the market, this one is overwhelmingly vague. The rumor is only that the company may soon be taken over, but doesn't offer any information with regard to who the buyer might be nor what the price might be.
At the end of the day, this isn't the first rumor we've seen in the market, and it sure isn't going to be the last. The bottom line is that rumors happen all of the time, and very few of them ever prove to be valid. Considering the fact that this rumor is overwhelmingly vague and it's seemingly impossible to track down the source, I would bet my bottom dollar that this is a false one. So, if you do plan on trading on this news, please be sure to do so with caution.
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on DDD. In particular, we're interested in seeing if a takeover is indeed going to take place. While we don't believe that there is any validity to the rumor, anything can happen in the market. Nonetheless, we'll continue to follow the story and bring the news to you as it breaks!
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