BlackBerry Ltd (NASDAQ: BBRY) was off to a rough day early on, trading in the red. However, that all changed minutes ago as rumors started to break surrounding the company. This led to excitement among investors and gains in the stock. As is usually the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:22), BBRY is trading at $9.30 per share after a gain of $0.01 per share (0.11%) thus far today.
BBRY Gains On Takeover Chatter
As mentioned above, BlackBerry was having a rough day in the market early on. However, that changed minutes ago as the stock started to spike due to a rumor that the company will be taken over. The rumor suggests that the takeover will happen around $15 per share, but doesn’t offer a potential buyer.
Keep in mind that we see takeover rumors in the market all the time, and we’ve seen quite a few surrounding BBRY recently. However, these types of rumors are rarely valid. So, if you’re going to trade on this news, make sure to trade 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 BBRY. While we do not believe that there is any validity to the takeover rumors, we could be wrong, as anything can happen in the market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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