Lululemon Athletica inc. (NASDAQ: LULU)
Lululemon Athletica is having an overwhelmingly strong day in the market today. While it was off to a relatively normal start, we noticed big gains starting just minutes ago. Today, we’ll talk about the gains we’re seeing, why we’re seeing the gains, and what we can expect to see from LULU stock ahead.
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What We’re Seeing From LULU
As mentioned above, Lululemon Athletica was off to a relatively normal start in the market today. However, in the past few minutes, things have changed in a big way. At the moment, the stock is skyrocketing. Currently (11:01), LULU is trading at $57.20 per share after a gain of $2.09 per share (3.79%) thus far today.
Why We’re Seeing The Gains
The gains that we’re seeing on LULU stock are happening for a very good reason. There is quite a bit of chatter surrounding a possible takeover. In fact, that chatter is that the CEO of the company may take it private. The rumors also give a possible price for the acquisition. In fact, it is being suggested that Lululemon athletica may be purchased for between $66 and $69 per share.
What We Can Expect To See Moving Forward
Moving forward, I have a relatively mixed opinion of what we can expect to see. While I never suggest feeding into rumors, this one may actually have something to it. At the end of the day, movement in LULU stock in the short term will likely be largely dictated by news surrounding this story.
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[Image Courtesy of Wikimedia]