Hain Celestial Group Inc (NASDAQ: HAIN)
Hain Celestial Group was off to what seemed to be a rough day in the market today. While the stock was in the green early on, after a short run upward the stock quickly made a run for the red where it has been for most of the day. Nonetheless, minutes ago, the stock started spiking. Below, we’ll talk about what we’re seeing in the market, why, and what we’ll be watching for with regard to HAIN ahead.
What We’re Seeing From HAIN
As mentioned above, Hain Celestial Group wasn’t off to the best of starts in the market today. Very early on, the stock spiked upward. However, that spike was short-lived, as it soon started making a run for the bottom. Once in the red, we continued to see negative movement for the most part. That is, until minutes ago. At the moment, the stock is spiking upward. Currently (11:12), HAIN is trading at $39.58 per share after a gain of $0.04 per share (0.10%) thus far today.
Why The Stock Is Headed Up
As soon as the CNA Finance team was informed by our partners at Trade Ideas that HAIN was making a run for the top, we started to do some digging to see exactly what was causing the movement. It didn’t take long to dig up the story. While we haven’t seen any fundamental news that would lead to such gains, we are seeing quite a bit of social chatter at the moment.
Regardless of which social network you enjoy, if you do a quick search for Hain Celestial Group, you’ll come up with an interesting rumor. According to the social chatter, General Mills (GIS) is interested in acquiring the company. Now, the rumors are unconfirmed at the moment, and it’s important to remember that many of these rumors end with no acquisition.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on HAIN. Of course, we’re interested to see if there is any validity to this rumor. While the takeover would make sense from a logistics standpoint, only time will tell if that is actually what’s happening. Nonetheless, we’ll keep a close eye on the news and bring you the info as it develops!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!
[Image Courtesy of The Blue Diamond Gallery]