Gilead Sciences, Inc. (NASDAQ: GILD)
Gilead Sciences is having what seems to be a normal day in the market today. When the trading session started for the day, the stock was already trading slightly in the green. From there, it started to dip a bit. However, minutes ago, the stock started to make its way back upward as a rumor started to break. Below, we’ll talk about what we’re seeing from GILD, the rumor, and what we’ll be watching for ahead.
What We’re Seeing From GILD
As mentioned above, Gilead Sciences was off to what seemed to be a relatively normal day in the market today. In fact, the stock was already trading slightly in the green when the opening bell rang. At the start of the session, the stock began to make its way downward. However, minutes ago, the direction changed as a rumor broke, causing the stock to look for more gains. At the moment (9:57), GILD is trading at $66.81 per share after a gain of $0.45 per share (0.68%) thus far today.
Why The Stock Is Edging Up
As is usually the case, our partners at Trade Ideas were the first to alert us to the movement on GILD. As soon as they did, the CNA Finance team started digging to see what was causing the movement. While we were unable to find any fundamental news released by the company that would lead to such gains, we were able to find an interesting rumor.
At the moment, there’s a rumor circling the social space. That rumor is that Carl Icahn plans to start taking a role in the stock. Of course, we know that Carl Icahn is one of the most well-respected activist investors in the world. If he does decide to put his hands on Gilead Sciences, it will likely be great news for the company and its investors.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on GILD. In particular, we’ll be watching to see if there is any validity to the Icahn rumor. If there is, we could see strong movement upward. We’ll keep a close eye on the news and bring you the updates as they become available.
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