Fiesta Restaurant Group Inc (NASDAQ: FRGI)
Fiesta Restaurant Group wasn’t off to the best of starts to the trading session today. In fact, when the opening bell rang, the stock found itself in the red, where it has continued to fall deeper and deeper all day. However, that all changed minutes ago as the stock started to spike. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to FRGI ahead.
What We’re Seeing From FRGI
As mentioned above, Fiesta Restaurant Group wasn’t off to the best of days in the market today. Unfortunately, from the opening bell, the stock found itself in the red and has continued to fall throughout the session. Nonetheless, minutes ago, the stock started spiking, making its way back to the green in just a few ticks of the clock. At the moment (11:52), FRGI is trading at $28.35 per share after a gain of 0.01%.
Why The Stock Is Climbing
As soon as we noticed that FRGI was making a run for the top, the CNA Finance team started to dig to see exactly what was causing the movement. It didn’t take long to uncover the story in this case. The movement seems to be the result of a potential sale.
In a recent Dealreporter report, it was suggested that the Fiesta Restaurant Group is in the process of exploring a potential sale. We don’t quite know who the potential buyer would be, nor at what price the sale would close. Nonetheless, this is an interesting story and it’s causing FRGI to climb!
What We’ll Be Watching For Ahead
Moving forward, we’ll be keeping a close eye on FRGI to see what comes of the potential sale. Of course, if a sale does take place, strong value would likely be returned to shareholders. Nonetheless, we’ll keep a close eye on the story and be sure to update you with any developments!
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[Image Courtesy of Wikimedia]