Immunomedics (IMMU) Stock: Here’s Why It’s Spiking

Immunomedics, Inc. (NASDAQ: IMMU)

Immunomedics is having an overwhelmingly strong day in the market today. Since the opening bell rang just minutes ago, the stock has been in the green. When it rang, the stock hit the ground running, skyrocketing toward the top. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to IMMU ahead.

What We’re Seeing From IMMU

As mentioned above, Immunomedics is having an overwhelmingly strong start to the trading session today. With the sound of the opening bell, the stock found itself well into the green. Not to mention, it seems like the stock is climbing higher and higher with each passing second. At the moment (9:41), IMMU is trading at $3.64 per share after a gain of $0.36 per share (10.98%) thus far today.

Why The Stock Is Spiking

As usual, as soon as the CNA Finance team noticed that IMMU was headed for the top, we started to do a bit of digging to see exactly what was causing the movement. It didn’t take long to dig this story up. It seems as though a rumor is to blame for the large gains.

In the social space, we’re seeing quite a bit of chatter surrounding Immunomedics. That chatter suggests that the company is likely to be acquired relatively soon. Now, the chatter is incredibly vague. We don’t know who the buyer might be or what the price may be. Not to mention, this is just a rumor at this point with no confirmation from anyone involved.

What We’ll Be Watching For Ahead

Moving forward, we’ll be keeping a close eye on IMMU. In particular, we’ll be watching for a possible acquisition. However, don’t get your hopes up too high. We’ve seen countless rumors like this in the market, and the truth is that only a few of them have come to fruition. Nonetheless, we’ll keep a close eye on the story and update you as it breaks!

Update – While there is some chatter surrounding IMMU, there’s another reason for the gains. The company has released significant clinical data. To get a glimpse at the data, click here.

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[Image Courtesy of Wikimedia]

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