OpGen Inc (NASDAQ: OPGN)
OpGen looked like it was off to a relatively normal day in the market today. On the opening bell, the stock started to head upward, but the gains weren’t anything to write home about. That is, until minutes ago, when the stock started soaring. Below, we’ll talk about what we’re seeing in the market, why, and what we’ll be watching for with regard to OPGN ahead.
What We’re Seeing From OPGN
As mentioned above, OpGen looked like it was off to a relatively normal day in the market today. The stock was up a bit, but nothing special seemed to be happening. That is, until minutes ago, when the stock started to make a mad-dash toward the top. Currently (10:31), OPGN is trading at $1.15 per share after a gain of $0.15 per share (15.00%) thus far today.
Why The Stock Is Climbing
As always, as soon as our partners at Trade Ideas informed us that OPGN was making a run for the top, the CNA Finance team went digging to see exactly what was causing the movement. It didn’t take long to uncover the story. While we were unable to find any fundamental news about the company, we were able to find a big rumor in the social space.
Regardless of which social network you use, if you do a search for OpGen, chances are that you’re going to see the rumor. The rumor is that Merck & Co is considering taking over the company. Now, keep in mind that the rumor has not been confirmed by either side.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on OPGN. After all, if this rumor is true, the acquisition could return incredible value to shareholders. Nonetheless, rumors aren’t up to par in most cases. We’ll keep a close eye on the news and bring it to you as the story continues to break!
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[Image Courtesy of Flickr]