Air Products & Chemicals (APD) Stock: Noticing A Spike?

Air Products & Chemicals, Inc. (NYSE: APD)

Air Products & Chemicals was off to a relatively rough day in the market today. In fact, following the opening bell, the stock found itself in the red, where it remained all day. That is, until minutes ago when the value of the stock spiked upward and broke through the line into the green. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to APD ahead.

What We’re Seeing From APD

As mentioned above, Air Products & Chemicals wasn’t off to the best of days in the market today. When the opening bell rang, the stock found itself in the red. Throughout the day, the losses remained. However, minutes ago, we started to notice a spike in the value of the stock. At the moment (12:51), APD is trading at $142.47 per share after a gain of $0.69 per share or 0.49% thus far today.

Why The Stock Is Climbing

As soon as we saw the spike in value on APD, the CNA Finance team did some digging to see what was causing the movement. It didn’t take long to dig up the news. In a quick search, we found that TD Asset Management has raised its position on the stock.

This is important because little money tends to follow big money. When institutional investors show that they are interested in Air Products & Chemicals, retail investors will likely follow. As a result, we’re seeing gains in the value of the stock.

What We’ll Be Watching For Ahead

Moving forward, we’ll be watching ADP closely to see what changes come in institutional interest. Recently HSBC also started covering the stock. As it gets more and more lime light coverage, chances are that interest will continue to rise. Nonetheless, we’ll watch the story and bring the news to you as it breaks!

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[Image Courtesy of Pixabay]

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