Nam Tai Property Inc (NYSE: NTP)
Nam Tai Property is having an incredible day in the market today with a spike that just started minutes ago. The CNA Finance team has dug into the details and figured out why it’s soaring. Below, we’ll talk about what’s happening with the stock, why, and what we can expect to see from NTP ahead.
NTP Is Soaring In The Market!
As mentioned above Nam Tai Properties is having an incredibly strong day in the market today. In fact, in the early morning trading hours, we’re seeing a high volume spike toward the top. Currently (9:54), NTP is trading at $8.15 per share after a gain of $0.64 per share (8.52%) thus far today.
Why The Stock Is Gaining
As soon as the CNA Finance team noticed that the stock was spiking, we started digging to see what was causing the movement on NTP. In this case, the movement seems to surround news that an analyst has a very strong opinion of the stock.
According to the rumor, Geoinvesting is currently looking into the valuation of the stock. If these rumors are correct, relatively soon, we should see a report that values Nam Tai Properties at $25 per share. This would insinuate massive upside potential.
What Traders Should Watch Ahead
First and foremost, investors are overwhelmingly excited about Geoinvesting weighing in here. So, keep an eye on that story as it unfolds because it will likely dictate movement. Furthermore and regardless of the story, the CNA Finance team expects to see gains from the stock in the long run based on strong financial data and consistent growth.
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