First Solar, Inc. (NASDAQ: FSLR) wasn’t off to the best of days in the market today. In fact, the stock found its way to the red early on, where it spent most of the morning. However, minutes ago, the stock started spiking as a rumor started to break. Of course, our partners at Trade Ideas were the first to alert us to the movement. At the moment (10:44), FSLR is trading at $37.73 per share after a gain of $0.06 per share or 0.16% thus far today.
FSLR Gains On Takeover Chatter
As mentioned above, First Solar wasn’t off to the best of days in the market today, spending most of the morning in the red. However, minutes ago, a rumor started to break in the market that led to excitement, pushing the stock to the green. The rumor is that the company will soon be taken over. However, it’s a vague one. There’s no mention of who the buyer might be or at what price they might be interested in taking the company over.
At the end of the day, these types of rumors are nothing new to the market. In fact, they happen all of the time, with very few of them proving to be true. With the fact that this one is overwhelmingly vague, this is likely just another dud from the mil. So, if you’re going to trade on this rumor, please 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 more about the takeover rumor. While we don’t believe the rumor to be valid, anything can happen in the market. If a takeover were to happen, it would likely return incredible value to shareholders. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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