Finisar Corporation (NASDAQ: FNSR) is having a great time in the market at the moment. Minutes ago, the stock started spiking in a big way. After a bit of digging, we found that the gains are the result of takeover rumors. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:40), FNSR is trading at $23.36 per share after a gain of $0.30 per share (1.30%) thus far today.
FNSR Gains On Takeover Rumors
As mentioned above, Finisar is having a great time in the market as the result of rumors that broke surrounding a potential takeover. The rumors suggest that the company will be taken over at a price of $36 per share. They also suggest that the buyer will be a private equity firm or group of private equity firms.
It’s important to keep in mind that there is no rarity to takeover rumors in the market. Truth is, they happen all the time. Unfortunately, most of them prove to be false. So, if you’re going to trade on this rumor, make sure that you trade 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 FNSR. In particular, we’re interested in learning if there is any validity to the rumors surrounding the company at the moment. As always, we’ll continue to follow the story closely and bring the news to you as it breaks!
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