Casey’s General Stores (CASY) Stock: Spiking On Acquisition Rumor

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Casey’s General Stores Inc (NASDAQ: CASY)

Casey’s General Stores was off to a relatively rough start in the market today. However, minutes ago, the CNA Finance team noticed a spike in the value of the stock, and we believe that we’ve found the reason why. Today, we’ll talk about what we’re seeing from the stock, why, and what we can expect to see from CASY ahead.

CASY Starts To Spike Toward The Green

As mentioned above, Casey’s General Stores was off to a rough start in the trading session today. However, minutes ago, the stock started to spike upward, and given the momentum involved here, we could see the stock make it to – and past – the green. At the moment (3:08), CASY is trading at $113.11 per share after a loss of $2.04 per share (1.78%) thus far today.

Why The Stock Is Spiking

While the stock is in the red, there’s no doubt that CASY has been spiking higher over the past few minutes. The reason is relatively simple. In the social media space, we’re starting to see quite a bit of chatter around the stock.

According to rumors circulating in social media, there’s takeover interest in the company. As investors, we know how exciting takeovers can be. As a result, Casey’s General Store shares are climbing in value.

What To Watch For Ahead

Moving forward, traders should keep a close eye on the story surrounding the acquisition of CASY. However, keep in mind that nothing has been confirmed. At the moment, this is just rumors. At the end of the day, we’ve seen quite a few rumors of acquisitions and more fall through than actually end up happening. Nonetheless, the story is likely to continue to cause movement in the market, so it will be important to watch!

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[Image Courtesy of Flickr]

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