GigPeak (GIG) Stock: Halted With News Pending


GigPeak Inc (NYSEMKT: GIG)

GigPeak is having an interesting start in the market today. In fact, it’s not having a start at all. Early this morning, the stock was halted. As a result, our partners at Trade Ideas were the first to send the alert, causing us to dig to see what’s going on. At the moment, the stock is halted at $3.07 per share with no gain or loss.

GIG Halted

As mentioned above, GigPeak is halted at the moment. In this particular case, the halt is a news pending halt, which generally means that big news is coming soon. While there is no information on why the stock was halted quite yet, we are expecting that the news will be released any minute now. So, stay tuned!

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on GIG. In particular, we’re interested in learning more about the halt. Nonetheless, we’ll continue to follow the stock closely and bring the news to you as it breaks.

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Update 9:10: The news with regard to the halt has broke. Integrated Device Technology (IDTI) has announced that its tender offer by its wholly-owned subsidiary, Glider Merger Sub, Inc., to purchase all outstanding shares of GIG at an offer price of $3.08 per share has expired as scheduled.

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What Do You Think?

Where do you think GIG is headed moving forward? Join the discussion in the comments below!

[Image Courtesy of Pixabay]


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