Michael Kors Holdings Ltd (NYSE: KORS)
Micheal Kors started today off like any other day. However, just minutes ago, the stock started to spike upward. After a bit of research, the CNA Finance team found that the gains were the result of takeover chatter. Here’s what’s going on with KORS.
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KORS Gains On Takeover Chatter
As mentioned above, Michael Kors Holdings is currently climbing in the market on takeover chatter. While the chatter is all over the social networks, there has been no information offered that confirms nor denies the takeover.
At this point, we know that investors are excited about it because they’re talking about it and sending KORS upward in the market. However, there has not been any confirmation from KORS, nor do we know who would be interested in acquiring the company.
What We’re Seeing From The Stock
While the day was off to a slow start, we’re seeing an upward spike on the chart as we speak. While I believe we are well into the beginning of the trend, there’s definitely more room to run on this rumor. Currently (10:50), KORS is trading at $47.55 per share after a gain of $1.00 per share (2.15%).
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We’ll Keep An Eye Out
At CNA Finance, we’ll keep a close eye on what’s going on with Michael Kors Holdings stock. If any new news surfaces or we hear any confirmation or denial of the takeover rumors, we’ll be sure to get that to our readers. Subscribe below to make sure you get the news from CNA Finance surrounding KORS and other strong opportunities in real time!
CNA Finance Chief Strategic Analyst, Kenny Soulstring weighed in on the possibility of a KORS acquisition. Read his analysis here.
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