Gilead Sciences, Inc. (NASDAQ: GILD)
Gilead Sciences is having an incredibly strong start to the trading session today. After starting the day off in the red, the stock made a quick push for the green. From there, it continued to climb higher. Below, we’ll talk about what we’re seeing from GILD, why, and what we’ll be watching for ahead.
What We’re Seeing From GILD
As mentioned above, Gilead Sciences is off to an incredibly strong start to the trading session today. At the opening bell, the stock was trading in the red, but that didn’t last long. In what seemed to be no time at all, the stock found its way to the green before spiking further upward just minutes ago. At the moment (9:49), GILD is trading at $70.75 per share after a gain of $0.56 per share (0.80%) thus far today.
Why The Stock Is Making A Run For The Top
As is almost always the case, our friends at Trade Ideas were the first to inform us of the gains on GILD. As soon as we received the alert, the CNA Finance team started digging to see exactly why the stock was moving upward. It didn’t take long to uncover the story. While the company hasn’t released any fundamental news that would lead to such gains, the movement seems to be caused by rumors.
At the moment, all over social media, we’re seeing a rumor surfacing surrounding Gilead Sciences. That rumor is that an activist investor is planning on taking a large stake in the company. In some of the references to the rumor, we’re seeing the name Carl Icahn mentioned. Of course, we know who that is and what he’s capable of. As a result, we believe that excitement surrounding the potential impact of Icahn taking a large stake in the company is what is leading to the upward climb.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on GILD. In particular, we’ve seen the Icahn rumor a few times now, and while it has had no validity in the past, we’ll be watching to see if this time is different. We’ll keep a close eye on the news and bring it to you as it breaks!
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