Angie’s List Inc (NASDAQ: ANGI)
Angie’s List wasn’t having the best day in the market today. However, that changed quickly minutes ago. We went digging and found the cause. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to ANGI ahead.
What We’re Seeing From ANGI
As mentioned above, Angie’s List wasn’t off to the best trading session today. In fact, the stock was trading in the red for most of the day. However, minutes ago, the stock started to spike in a big way. At the moment (2:13), ANGI is trading at $7.86 per share after a gain of $0.29 per share or 3.83% thus far today.
Why We’re Seeing The Spike
As always, as soon as we noticed the spike on ANGI, the CNA Finance team started to dig to uncover the cause of the movement. While the company hasn’t released any fundamental news that would cause such a dramatic spike in value, we have found something.
At the moment, there are reports that there are multiple buyers for Angie’s List. Essentially insinuating that the company is going to be acquired. The reports first came from Street Insider, and are now flooding social media. As a result, the excitement is sending ANGI skyward.
What We’ll Be Watching For Ahead
Moving forward, we’ll be keeping a close eye on the developments in the bid for ANGI. At this point, Street Insider, a well respected publication has reported that multiple bidders are interested. That adds validity to the rumors and suggests that an acquisition is indeed coming. As a result, I’m expecting to see some exciting news out of Angie’s List relatively soon!
Update: ANGI has been halted on the acquisition spike.
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