General Mills, Inc. (NYSE: GIS)
General Mills wasn’t having the best of days in the market today. In fact, when the opening bell rang, the stock was trading well into the red. From there, we did see some upward movement, but right when it hit the green, it started to fall once again. Nonetheless, minutes ago, the stock started spiking upward in a big way. Below, we’ll talk about what we’re seeing from GIS, why, and what we’ll be watching for ahead.
What We’re Seeing From GIS
As mentioned above, General Mills wasn’t off to the most incredible day in the market that it’s ever seen. Instead, the stock was trading in the red at the open. While it did make a quick push to the green, the stock dove back to losses once profits were seen. Nonetheless, minutes ago, it started spiking in a big way. At the moment (9:54), GIS is trading at $63.20 per share after a gain of $0.31 per share (0.49%) thus far today.
Why The Stock Is Climbing
As is almost always the case, our partners at Trade Ideas were the first to send notification of the spike on GIS. As soon as they did, the CNA Finance team started working to see what was causing the movement. It didn’t take long to dig up the story. At the moment, there’s chatter running around about a potential acquisition in the works.
Regardless of your favorite social media platform, if you go to it at the moment and search for General Mills, you’re likely to find a rumor. The rumor suggests that the company is going to be taken over. The buyer in the rumor is Mondelez International (MDLZ). However, a potential acquisition price has not been rumored… yet.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping an incredibly close eye on GIS. In particular, we’ll be watching to see if there is any validity to today’s rumors. Of course, if an acquisition does happen, we could see tremendous value returned to shareholders. Nonetheless, at the moment, this is nothing more than a rumor. We’ll be watching the news closely and bringing it to you as it breaks!
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