Lifelock Inc (NYSE: LOCK)
Lifelock was off to a relatively normal start this morning when the opening bell rang. However, minutes ago, the stock started to soar. It didn’t take long to dig up the underlying cause of this one. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to LOCK ahead.
What We’re Seeing From LOCK
As mentioned above, today hasn’t been a bad day for Lifelock. Throughout the day, the stock has been in the green, but it was relatively normal gains. It was nothing big, nothing to write home about. Nonetheless, minutes ago, that changed as the stock took off like a rocket. Currently (11:11), LOCK is trading at $19.57 per share after a gain of $1.93 per share (10.94%) thus far today.
Why The Stock Is Skyrocketing
As usual, when we noticed the spike, the CNA Finance team started digging for the dirt. It didn’t take long to uncover the reason for the gains. According to a Bloomberg report published at the foot of this spike, LOCK is currently considering taking the stock private.
In the report, the outlet said that if Lifelock were to be taken private, it would likely have a price tag around $2 billion. Of course, if this is the case, it would return tremendous value to shareholders. All in all, this could be an incredible deal for LOCK and its investors!
What We’ll Be Watching For
Moving forward, the CNA Finance team will be following this story closely and reporting any news. Considering the source of the original report, we can only determine that there is some validity behind the claims. As a result, we’re expecting to see further gains out of LOCK. Nonetheless, we’ll keep an eye out and bring the news to you as it breaks!
UPDATE: LOCK has hired Goldman Sachs to explore strategic alternatives.
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