LG Display Co Ltd. (ADR) (NYSE: LPL)
LG Display was off to a relatively normal start in the market today. While the stock has been in the green all day, we hadn’t seen much by way of exciting movement. However, that changed minutes ago as the stock started to climb. Today, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching with regard to LPL ahead.
What We’re Seeing From LPL
As mentioned above, LPL was having a relatively normal day in the market today, making its way into the green and staying there. However, gains just weren’t all that big. However, minutes ago, the stock started to spike upward. At the moment (2:18), LPL is trading at $12.00 per share after a gain of $0.53 per share (4.62%) thus far today.
Why The Stock Is Spiking
As usual, as soon as we noticed the spike on LPL, the CNA Finance team started digging to see what was causing the movement. It didn’t take long to dig up the cause. At the moment, there’s quite a bit of chatter in the social space about a possible acquisition.
According to the social rumors, Apple is interested in taking over LG Display. Keep in mind that, at the moment, there is no confirmation from either side of the coin that the acquisition is actually going to happen. Nonetheless, it does make sense.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on this story. We see quite a few acquisition rumors, however, the one surrounding LPL is overwhelmingly interesting to us, primarily because of the possible buyer. AAPL is known for smart acquisitions, and LPL would be just that. Nonetheless, it is important to remember that this is just a rumor at the moment. We’ll keep a close eye on the developments and update you with the news as it happens!
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[Image Courtesy of Flickr]