Harley-Davidson Inc (NYSE: HOG)
Harley Davidson was off to a relatively normal start in the market today. However, things changed quickly. Over the past few minutes, the CNA Finance team noticed that the stock was spiking upward in a big way. Today, we’ll talk about what we’re seeing from the stock, why, and what we can expect to see from HOG ahead.
What We’re Seeing From HOG
As mentioned above, Harley-David stock was off to a relatively normal start to the day with no big gains or losses. Nonetheless, minutes ago, that changed in a big way as the stock started looking for high momentum gains. Currently (10:33), HOG is trading at $57.96 per share after a gain of $1.89 per share (3.37%) thus far today.
Why Are The Gains Happening?
As soon as the CNA Finance team noticed the gains on the stock, we started to dig to see what was causing the movement. In our investigation, we found no sign of fundamental news from the company. Nonetheless, we do believe we found the reason that HOG stock is skyrocketing.
Through a search on social media, we were able to find quite a bit of chatter. Essentially, the gains are happening as the result of a takeover rumor. At the moment, the rumor has not bee confirmed.
What To Watch Ahead
Over the years, I’ve watched plenty of takeover rumors move the market. However, it’s important to remember that most of these don’t come to fruition. Nonetheless, watch the rumor and possible news of a takeover for a good idea of what’s coming next!
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[Image Courtesy of Pixabay]