Brookdale Senior Living, Inc. (NYSE: BKD)
Brookdale Senior Living didn't look like it was having the best of days in the market today. When the opening bell rang, the stock was slightly in the red. From there, we saw slow and steady declines until about 10:15. While the stock has been slowly working to recover, it was in the red all day. That is, until minutes ago when it started spiking. Below, we'll talk about what we're seeing in the market, why, and what we'll be watching for with regard to BKD ahead.
What We're Seeing From BKD
As mentioned above, Brookdale Senior Living wasn't off to the best of days in the market today. When the opening bell rang, the stock was slightly in the red. While it did remain in the red for most of the day, since about 10:15 it has been working to recover. Now, that recovery has been kicked into overdrive. Minutes ago, the stock started spiking. By 12:45, it was halted after reaching $15.02 per share folowling a gain of $2.17 per share (16.89%) thus far today.
Why The Stock Is Spiking
As is usually the case, our partners at Trade Ideas were the first to notify us of the gains on BKD. As soon as they did, the CNA Finance team started digging to see exactly what was causing the movement. In this case, it didn't take long to uncover the story. It seems as though the gains may be the result of a potential deal.
Here's what we do know... It is a fact that the stock was in the red for most of the day. It is also a fact that the stock started spiking minutes ago before being halted. Now, why it was spiking is still a mystery, but it seems to be the result of a deal in progress according to social rumors. This may be an acquisition my friends!
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on BKD. In particular, we're watching to see what the true reason for the halt is. If it does turn out to be an acquisition, we can expect a big jump when this thing reopens. We'll watch the news closely and bring it to you as it breaks!
Update: Rumor is evolving - CSU is said to be the buyer.
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