Endo International Plc (NASDAQ: ENDP)
Endo International is having a relatively strong day in the market and seems to be spiking further upward. After a bit of digging, we believe we’ve found the cause. Below, we’ll talk about what we’re seeing from the stock, why, and what we can expect to see from ENDP ahead.
What We’re Seeing From ENDP
As mentioned above, Endo International is having a relatively strong day in the market, trading in the green since the opening bell. In fact, at one point in the first hour of trading, the stock was up by around 4%. While we’ve seen some decline, it looks like we’ll stay in the green throughout the rest of the day, and in a big way. Currently (1:48), ENDP is trading at $14.92 per share after a gain of $0.30 per share (2.02%) thus far today.
Why We’re Seeing The Gains
The gains seem to be the result of reports that the company may be interested in selling a key asset. According to the reports, ENDP is interested in selling the Paladin Lab unit, and they are currently in talks over the sale. Considering that Reuters was the first to report this news, I have to imagine that there is at least some validity here.
What We Should Be Watching For Ahead
First and foremost, it’s important to remember that Endo is reported to be in talks surrounding selling the Paladin Lab unit. However, there is no deal that is ready to be signed quite yet, and talks often end without a deal. Nonetheless, the CNA Finance team will be keeping a close eye on ENDP as this story develops in order to bring you the news quickly!
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[Image Courtesy of Pixabay]