Gilead Sciences, Inc. (NASDAQ: GILD)
Gilead Sciences is having a relatively strong day in the market today. At the open of the trading session, the stock was trading slightly in the green. Since then, we’ve seen movement in both directions, but the stock has stayed above the breakeven point. However, things went from good to great minutes ago, as the stock started to spike. 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 having a pretty good day in the market today. After staring the day off slightly in the green, the stock went through a bit of a turbulent ride in the first couple of hours. Nonetheless, it stayed above the breakeven point before spiking in a big way just minutes ago. At the moment (11:15), GILD is trading at $70.79 per share after a gain of $0.85 per share (1.22%) thus far today.
Why The Stock Is Spiking Upward
As is almost always the case, our partners at Trade Ideas were the first to notify us of the spike on GILD. As soon as we received the alert, the CNA Finance team started digging to see exactly why the stock was making a run upward. It didn’t take long to dig up the story. While there has been no fundamental news released surrounding the company, we are seeing a rumor that seems to be the cause of the excitement.
At the moment, there’s a rumor surfacing on social media about Gilead Sciences. That rumor is that Starboard has taken a large stake in the company. At the moment, the rumor is not confirmed by either side. However, if this proves to be the case, the run we’re seeing now may just be the tip of the iceberg.
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 rumor mentioned above. We’ll be watching the story closely and bringing you the updates as they break!
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