EVINE Live Inc (NASDAQ: EVLV) is having an overwhelmingly strong start to the trading session this morning. However, if you dig in, you’ll see that the company hasn’t released any news. So, what’s going on? Well, it all has to do with takeover speculation. Today, we’ll talk about:
- Why some believe that EVLV will be taken over;
- what we’re seeing from the stock as a result; and
- what we’ll be watching for ahead.
EVLV Soars On Takeover Chatter
As mentioned above, EVINE Live is having an incredibly strong start to the trading session this morning as speculation that a takeover may take place starts to swirl. The speculation is the result of various reports surfacing online that Amazon.com (NASDAQ: AMZN) is planning on adding robots and a home shopping TV network to its growing list of products and services. On the robot side of the coin, it is reported that AMZN plans on testing them in employee homes before the end of the year. However, there is no time frame for when the company may want to add the home shopping TV network.
Nonetheless, EVLV investors are getting excited with hopes that AMZN may be interested in taking the company over. However, it’s important to remember that this isn’t the first bit of takeover speculation that we’ve seen and it won’t be the last. At the end of the day, takeover rumors are one of the most common forms of market manipulation. With no insinuation from either AMZN or EVLV that talks surrounding a takeover are even taking place, if you’re going to move on this news, please be sure to do so with caution!
What We’re Seeing From The Stock
Takeover chatter has a way of causing stocks to make some pretty dramatic moves. With the speculation surfacing that EVINE Live may be taken over by Amazon, it’s no surprise that we’re seeing an incredibly strong reaction in the market. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:00), EVLV is trading at $1.07 per share after a gain of $0.26 per share (32.49%) thus far today.
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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 EVLV. In particular, we’re interested in following the news surrounding a potential takeover. While we’re not sure that one is going to take place, if it does, it will likely be a massive value add for shareholders on both sides. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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