Harley-Davidson Inc (NYSE: HOG)
Harley-Davidson was off to a relatively rough start in the market today. Since the opening bell, the stock has been in the red and falling further all day. However, minutes ago, we started to see a spike that has now brought the value of the stock as close to the green line as it’s been all day. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to HOG ahead.
What We’re Seeing From HOG
As mentioned above, Harley-Davidson was having a very rough day in the market today. After starting the day off in the red, the stock only fell further as the session continued. Nonetheless, minutes ago the stock started to spike toward the green line in a big way. At the moment (11:16), HOG is trading at $58.07 per share after a loss of $0.03 per share (0.05%) thus far today.
Why The Stock Is Spiking
As usual, when we noticed that HOG was headed for the top, the CNA Finance team started to dig to see what was causing the dramatic movement. In our search, we didn’t find any fundamental news released by the company that would have caused such incredible gains. However, we did find something interesting in the social realm.
At the moment, there’s chatter all over the social space about Harley-Davidson. According to the rumors, the company is getting ready to be taken over. However, keep in mind that this is just a rumor, and a very vague one at that. We don’t know who the supposed acquirer is, we don’t know what the price is, all we know is that there’s chatter about a potential takeover.
What We’ll Be Watching For Ahead
Moving forward, we’ll be keeping a close eye on the HOG story. After all, any time there’s a takeover, it’s generally going to return dramatic value to shareholders. So, if this thing pans out to be true, the stock could climb. Nonetheless, we saw another rumor on HOG recently that followed the same lines and didn’t pan out to anything. So, if you’re going to trade this one, trade with caution.
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[Image Courtesy of Wikipedia]