Kellogg Company (NYSE: K) is having a great time in the market at the moment as takeover rumors start to excite investors. Of course, our partners at Trade Ideas were the first to alert us to the gains. A the moment (10:27), K is trading at $71.55 per share after a gain of $0.86 per share (1.22%) thus far today.
K Stock Gains On Takeover Rumors
As mentioned above, Kellogg Company is having a great time in the market at the moment. The gains all started minutes ago as rumors broke that the company would soon be acquired. While the rumors don’t suggest a price on the acquisition, they do name a potential buyer. If these rumors are true, Berkshire Hathaway (NYSE: BRK-A) is considering acquiring all outstanding shares of K stock.
It’s important to keep in mind that what we’re seeing at the moment is nothing more than a rumor. At the end of the day, we see rumors like this all of the time in the market, most of which prove to be false. While some of these rumors are indeed valid, they are always a risky play. So, if you’re going to trade on these rumors, make sure that you trade with caution.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on K stock. In particular, we’re interested in learning whether or not there is any validity to the rumors that are sending the stock upward. While we don’t believe that the acquisition will actually take place, anything can happen in the market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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