Illumina, Inc. (NASDAQ: ILMN)
Illumina is having an incredibly strong start to the trading session today. After the opening bell rang, the stock found itself slightly in the red, only to climb well into the green relatively quickly. Today, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for ahead with regard to ILMN.
What We’re Seeing From ILMN
As mentioned above, Illumina is having an incredibly strong day in the market today. As soon as the opening bell rang, the stock started a run toward the top. Within minutes it was into the green, and now it’s well into the territory. At the moment (9:50), ILMN is trading at $135.24 per share after a gain of $3.37 per share (2.56%) thus far today.
Why The Stock Is Gaining
As usual, as soon as we noticed that ILMN was on the run upward, the CNA Finance team started digging to see exactly what was happening. It didn’t take long to uncover the story. While we didn’t find anything fundamental that was released by the company that could have caused such a spike, we did find something.
When digging into the social media space, we started to see a big rumor. You see, there have been talks of a possible Illumina acquisition for some time now. However, today, we’re starting to see rumors that a suitor is ready to move. According to the rumors, Roche is working to make its move relatively soon.
What We’ll Be Watching For Ahead
Moving forward, we’ll be keeping a close eye on the ILMN acquisition rumor. After all, if it comes to fruition, the movement could be massive. Nonetheless, it is important to keep in mind that what we’re seeing at the moment is nothing more than a rumor. We’ve seen no confirmation from ILMN or Roche. We’ll be keeping a close eye on the story and bringing the news to you as it breaks!
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[Image Courtesy of J Photo Style]