Celgene Corporation (NASDAQ: CELG) is up slightly on the day. However, that movement could change at any moment following the circulation of rumors that are hitting the feeds as we speak. Today, we’ll talk about what we’re seeing from the stock, rumors that are breaking, and what we’ll be watching for with regard to CELG ahead.
What We’re Seeing From CELG
As mentioned above, Celgene is having a relatively quiet day in the market so far. While the stock has spent the session in the green, gains are pretty minimal. Nonetheless, that could change at any time considering the rumors that are breaking as we speak. At the moment (10:35), CELG is trading at $101.60 per share after a gain of $0.63 per share (0.62%) thus far today.
At the moment, regardless of whether you are looking at Twitter, StockTwits, or one of the many other investing and trading-related social networks or message boards, chances are that you’re seeing the same thing with regard to CELG. A rumor is spreading like wild fire across the web that the company may soon be taken over. According to these rumors, an activist investor is interested in making an offer to buy all outstanding shares. However, who that activist investor may be or how much they may be willing to pay to take Celgene Corporation over is not mentioned in the rumor.
Any time we see rumors like this, we feel as though a warning is appropriate. The reality is that this isn’t the first time we’ve seen a takeover rumor in the market. At the end of the day, these types of rumors take place just about every day. In fact, they are the most common form of market manipulation. Like most rumors, market rumors very rarely prove to be true. Instead, they are stories made up by someone looking to get a rise out of their audience. So, if you plan on making any moves with regard to the CELG rumor, please be sure to do so with caution.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CELG. In particular, we’re interested in learning more about the takeover rumors. While we don’t believe that a takeover will take place, 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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