CBS Corporation Common Stock (NYSE: CBS)
CBS Corporation was off to a relatively normal start in the market today. That is, until about an hour into trading. Minutes ago, the stock started to skyrocket in a big way. We think we’ve uncovered the reason. Today, we’ll talk about what we’re seeing from the stock, why we’re seeing the movement, and what we can expect to see from CBS ahead.
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What We’re Seeing From CBS
As mentioned above, CBS was off to a normal start to the day in the early morning hours. However, that has changed, as the stock has found its way from the red to the green over the past few minutes. Currently (10:32), the stock is trading at $56.99 per share after a gain of $0.21 per share (0.37%) thus far today.
Why The Stock Is Gaining
While CBS hasn’t released any fundamental news with regard to the company, there is a big story going around. At the moment, the CNA Finance team is seeing quite a bit of chatter in social media about a possible takeover. According to the rumors, Comcast (CMCSA) is interested in acquiring CBS. The rumors do not include a per-stock price for the possible transaction.
What We Can Expect To See Ahead
First and foremost, it’s important to remember that the movement is being caused by rumors. There is no confirmation on either side of the coin that Comcast is indeed interested in acquiring CBS. With that said, the concept of the acquisition makes sense, and, if it happens, the stock is going to soar. So, keep a close eye on the story as it unfolds and make sure to subscribe below for updates!
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