Mattel, Inc. (NASDAQ: MAT)
Mattel was off to a relatively normal day in the market today. While the stock did start the day off in the red, it quickly found its way to the green. From there, it continued to run for a short while, before correcting and falling back near the break-even point. Nonetheless, that all changed minutes ago as the stock started to soar. Below, we’ll talk about what we’re seeing from MAT, why, and what we’ll be watching for ahead.
What We’re Seeing From MAT
As mentioned above, Mattel was having a normal day in the market today. At the opening bell, the stock was trading slightly red. However, it didn’t take long to find its way to the green. When it did, we saw a continuation of upward movement before a slight correction, but the stock did indeed stay green. Nonetheless, minutes ago, the stock started to soar. At the moment (11:35), MAT is trading at $26.00 per share after a gain of $0.31 per share or 1.20% thus far today.
Why The Stock Is Spiking
As is almost always the case, our partners at Trade Ideas were the first to notify us of the upward movement on MAT. As soon as we received the notification, the CNA Finance team started digging to see what was causing the movement. It didn’t take long to uncover the story. Ultimately, the gains are the result of a rumor.
At the moment, all over social media, we’re seeing a big rumor revolving around Mattel. The rumor suggests that the company is going to be acquired. As with most rumors, the details here are vague. The rumor doesn’t offer up the name of the potential buyer, nor a price point. As a result, we’re not getting our hopes up on this one.
What We’ll Be Watching For Ahead
While we do not believe there is any validity to the takeover rumors surrounding MAT, we are going to keep an eye on the stock. At the end of the day, we could be wrong. If a takeover does happen, it will likely be the source of tremendous value for shareholders. Nonetheless, we’ll keep our eyes on the story and continue to bring you the news as it breaks!
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