E*TRADE Financial Corp (NASDAQ: ETFC) is having a strong time in the market at the moment. Minutes ago, a rumor broke that the company may soon be taken over. Of course, this led to excitement among investors, causing gains in the value of the stock and prompting our partners at Trade Ideas to alert us to the movement. At the moment (10:30), ETFC is trading at $35.18 per share after a gain of $0.37 per share (1.06%) thus far today.
ETFC Gains On Takeover Chatter
As mentioned above, E*TRADE Financial is having a strong time in the market a the moment. In fact, the stock is in the midst of a spike. Ultimately, the gains are being caused by a rumor. The rumor is that ETFC will soon be taken over. While there is no suggestion as to who may be interested in taking the company over, the rumor does suggest that the price of the takeover will be $44 per share.
It’s important to keep in mind that we see these types of rumors in the market regularly. In most cases, rumors prove to be just that… nothing more than a rumor. At the end of the day, this rumor is very vague and doesn’t have anything that would suggest that there is any truth to it. So, if you’re going to trade on this one, please do so with caution.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ETFC. In particular, we’re interested in following this rumor to see if a takeover does happen. While it looks like it’s invalid, anything can happen in the market. So we’ll continue to follow the story closely and bring the news to you as it breaks!
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