Mattel, Inc. (NASDAQ: MAT)
Mattel is having an overwhelmingly strong start to today’s trading session. When the session started for the day, the stock headed up slowly. However, minutes ago, the stock started to spike in a big way, bringing it higher and higher into the gains. 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 is having an incredibly strong start to the trading session today. When the opening bell rang, the stock started on a slow upward crawl. However, that slow crawl turned into a mad dash minutes ago as the stock started to spike toward the top. At the moment (9:47), MAT is trading at $26.38 per share after a gain of $0.46 per share or (1.77%) thus far today.
Why The Stock Is Spiking
As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains on MAT. As soon as they did, the CNA Finance team started digging to see exactly what was causing the movement. In this particular case, it didn’t take long to dig up the story. It seems as though the spike is being caused by a story on Deal Reporter.
In the article, Deal Reporter suggests that Hasbro (HAS) may want to consider merging with Mattel, given the current situation in the market. This is something that has been considered in the past, but never actually came to fruition. So, essentially, investors are hoping that the merger will happen and sending the stock up as a result of the article.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on both MAT and HAS. In particular, we’re watching to see if a merger is going to happen anytime soon. If it does, it would likely bring incredible value to shareholders on both sides of the coin. We’ll be watching the news closely and bringing it to you as it breaks!
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