FireEye Inc (NASDAQ: FEYE)
FireEye was off to a normal start in the market today. In fact, the stock was trading well into the red. That is, until minutes ago when we started to see a spike. The CNA Finance team has uncovered the reason for the movement. Below, we’ll talk about what we’re seeing from the stock, why, and what we will be watching with regard to FEYE ahead.
What We’re Seeing from FEYE
As mentioned above, FireEye wasn’t having the best of days in the market today. In fact, when the opening bell rang, the stock started heading for the red and made it well into the area. Nonetheless, minutes ago, we started to see a spike. At the moment (10:22), FEYE is trading at $14.28 per share after a gain of $0.09 per share (0.63%) thus far today.
Why We’re Seeing The Gains
As soon as we noticed that FEYE was headed up, the CNA Finance team went to work to see exactly what was causing the gains. In our search, we were unable to find any press releases or other fundamental news that would lead to such a hike. However, we do believe that we’ve found the reason for the gains.
In the social space, we’re seeing quite a bit of chatter surrounding an activist investor. That investor is Carl Icahn. According to the social chatter, Icahn is considering purchasing a good chunk of the stock. Of course, this would be a great thing for FireEye. However, it’s important to remember that what we’re seeing right now is the result of unconfirmed rumors.
What We’ll Be Watching Ahead
Moving forward, we’ll be keeping a close eye on FEYE to see if Icahn does indeed make a large purchase of shares. However, keep in mind that this is just a rumor. In fact, a short while ago, FEYE was the topic of another rumor that sent the stock flying, only to fall back down to earth when nothing came of it. Nonetheless, we’ll be watching the news closely and bringing the info to you as soon as we can dig it up!
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[Image Courtesy of Wikimedia]