DISH Network Corp (NASDAQ: DISH)
DISH Network wasn’t off to the best of days in today’s trading session. In fact, upon the opening bell, the stock quickly found itself in the red. From there, it continued to fall for the first bit. However, minutes ago, the stock started spiking in a big way, and it has now made it back to the green. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to DISH ahead.
What We’re Seeing From DISH
As mentioned above, DISH Network wasn’t off to the best of starts in the market today. Shortly following the opening bell, the stock made a mad dash for the red zone. Throughout most of the day so far, it looked like it was going to stay there. However, minutes ago, the stock started to spike into the green. Currently (11:08), DISH is trading at $58.98 per share after a gain of $0.34 per share (0.58%) thus far today.
Why The Stock Is Climbing
As usual, when Trade Ideas informed us that DISH was running upward, the CNA Finance team started to dig to see what was causing the strong movement. In this particular case, we didn’t find any fundamental news that would lead to such a gain. However, when we looked in the social space, we found a rumor that seems to be the cause of the movement.
Investors are chattering on most social networks at the moment. A rumor is circling the market that DISH Network will soon be acquired. However, I don’t think this one has any validity to it. The rumor is incredibly vague, and just one of many today. It seems as though the rumor starters are simply bored!
What We’ll Be Watching Ahead
Moving forward, the CNA Finance team will be keeping a close eye on DISH. While we don’t believe that the company will be acquired any time soon, anything could happen. Nonetheless, we’ll watch the news closely and bring updates to you as they break!
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[Image Courtesy of Flickr]