Alere Inc. Common Stock (NYSE: ALR)
Alere was off to a relatively normal start in the market today. However, minutes ago, the stock started to spike downward. After a bit of digging, we believe that we’ve found the cause. Below, we’ll talk about what we’re seeing from the stock, why, and what we should be watching for with regard to ALR ahead.
What We’re Seeing From ALR
As mentioned above Alere was off to a relatively normal start in the market today, trading well into the green early on. However, everything changed just a few minutes ago when the stock started to spike downward. Currently (11:00), ALR is trading at $38.87 per share after a loss of $3.36 per share (7.96%) thus far today.
Why We’re Seeing The Declines
As always, as soon as the CNA Finance team noticed the movement, we went digging to see what was going on. So far today, ALR has not released any fundamentally damning news that would cause such a spike downward. However, we do believe that we’ve found the cause.
There’s a rumor going around on social media that’s taking a heavy toll on the stock. According to the rumor, Alere may watch the Medicare enrollment for its Arriva division’s get revoked relatively soon.
What We’ll Be Watching For Ahead
Now, there is no confirmation that the revocation is actually going to happen. It’s important to remember that, at the moment, this is nothing more than rumor. Nonetheless, it is an interesting story surrounding ALR and we will be watching it closely. After all, the implications of such an action would likely be large. So, we suggest that you follow the story as it unfolds as well!
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