Michael Kors Holdings Ltd (NYSE: KORS)
Michael Kors Holdings has been an incredibly interesting stock to follow as of late, as recent social chatter suggests an acquisition to come. Minutes ago, the CNA Finance team noticed yet another spike in the value of the stock that seems to be connected to the story. Below, we’ll talk about what we’re seeing, the new chatter, and what we can expect to see from KORS ahead.
What We’re Seeing From KORS
As mentioned above, Michael Kors Holdings has been having a strong time in the market recently, and today the gains just keep stacking up. Currently (2:25), KORS is trading at $50.82 per share after a gain of $0.70 per share (1.40%) thus far today.
What’s New With The Chatter?
As we know, there has been quite a bit of chatter surrounding KORS. The chatter started a little over a week ago. It continued last week as everyone paid attention to Coach’s thoughts on acquiring another luxury brand. Now, more chatter is coming out.
According to rumors circulating in social media, the owner of Tommy Hilfiger has an interest in acquiring the company. Of course, this is an unconfirmed rumor at the moment. However, if it’s true, KORS may have a suitor.
Moving forward, the idea of an acquisition seems to be becoming more and more realistic. Nonetheless, it is important to remember that what we’re seeing at the moment is all unconfirmed. Essentially, it’s a big rumor that’s moving the market. Michael Kors isn’t the first company we’ve seen this with, and it won’t be the last. Ultimately, investors are going to be looking for more acquisition news; without it, we could see a correction. Nonetheless, fundamentally, the stock is geared up for long-run gains!
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[Image Courtesy of Wikimedia]