Merus Labs International Inc (NASDAQ: MSLI)
Merus Labs is having a relatively interesting day in the market today. At the opening bell, the stock was trading well into the red. Throughout about the first two hours, the stock worked on slow, yet steady gains, eventually making it to the break even point. However, minutes ago, things changed as the stock started to make a run for the top. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to MSLI ahead.
What We’re Seeing From MSLI
As mentioned above, MSLI started the day off pretty deep in the red. However, as the day progressed, we saw slow and steady gains, pushing the stock to the break even point. Then, minutes ago, the movement turned from good to great as the stock started to spike upward. At the moment (11:21), MSLI is trading at $0.89 per share after a gain of $0.05 per share or 5.60% thus far today.
Why The Stock Is Making A Run For The Top
As is almost always the case, our friends at Trade Ideas were the first to inform us of the gains on MSLI. As soon as we received the alert, the CNA Finance team started digging to see exactly why the stock was making a run for the top. It didn’t take very long to dig up the details. In this particular case, the stock is running based on news of hiring bankers.
Minutes ago, Merus Labs International announced that they are in the process of hiring bankers. The purpose for this is to explore strategic options. The company said that the options to be explored do indeed include the sale of the company.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on MSLI. In particular, we’ll be watching to see who exactly they hire as well as what strategic option the company decides to move forward with. Nonetheless, we’ll be watching the news closely and bringing it to you as it breaks!
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