First Solar, Inc. (NASDAQ: FSLR) is having an interesting day in the market today. After starting the day slightly in the green, the stock spiked into the red before making it back to the green. However, none of the movement was too exciting. That is, until minutes ago, when the stock started to spike toward the top on takeover chatter. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:46), FSLR is trading at $48.81 per share after a gain of $0.41 per share or 0.85% thus far today.
FSLR Gains On Takeover Chatter
As mentioned above, First Solar is having an interesting start to the trading session this morning. After seeing both slight gains and slight losses early on, the stock started to spike minutes ago thanks to takeover rumors that are surfacing on social media and message boards. However, the rumors are overwhelmingly vague. There is no suggestion as to who may be interested in taking FSLR over, nor at what price.
With that said, it’s important to remember that takeover rumors happen all the time in the market. In fact, this isn’t even the first rumor like this that we’ve seen today. Just after the opening bell, rumors broke that SFM would be taken over by WMT. Nonetheless, rumors in the market are just like any other rumor. Most of them prove to be invalid. So, if you’re going to trade based on the rumor, please be sure to 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 FSLR. In particular, we’re interested in learning if there is any validity to the rumors that are circling the market. While we don’t believe this to be the case, anything can happen in the market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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