Celgene Corporation (NASDAQ: CELG)
Celgene Corporation is having an incredibly strong start to the trading week today. While the stock started off today’s trading session on a business-as-usual note, things changed minutes ago as the stock skyrocketed toward the top. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to CELG ahead.
What We’re Seeing From CELG
As mentioned above, Celgene Corporation was off to a relatively normal start to the trading session today. While the stock was in the green very early on, it was nothing worth writing home about. Nonetheless, minutes ago, we watched as the stock spiked toward the top. At the moment (10:13), CELG is trading at $123.74 per share after a gain of $1.76 per share (1.45%) thus far today.
Why The Stock Is Gaining
As normal, when we noticed that CELG was climbing in the market, the CNA Finance team started digging to see exactly what was causing the movement. While the company hasn’t released any fundamental news that would cause a spike like this, we believe we found the driving force behind the spike.
At the moment, there’s a big rumor circulating on social media. That rumor is that Celgene Corporation is going to be taken over. The rumor doesn’t include any snippets on what the price of the acquisition would be nor who the buyer would be. In fact, the rumor surrounding the stock is overwhelmingly vague at the moment.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on the CELG story. After all, if an acquisition does happen, not only would it be one of the biggest in healthcare all year, it would generate incredible value for investors. Nonetheless, we’ll keep a close eye on CELG and bring the news to you as it breaks!
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