Pandora Media Inc (NYSE: P) was off to a rough start in the market today, and while the stock is still trading in the red, it is making up its losses pretty quickly. The gains are the result of news that a deal is inevitable, and soon. Of course, this led to excitement among investors, leading to gains in the value of the stock and prompting our partners at Trade Ideas to alert us to the movement. At the moment (12:11), P is trading at $10.18 per share after a gain of $0.20 per share or 1.93% thus far today.
P Stock Climbs On Deal Confidence
As mentioned above, Pandora was off to a rough day in the market today. However, minutes ago, the stock started working to make up for early morning losses. Ultimately, the gains are the result of the company saying that it was confident of a deal taking place within the next 30 days.
Of course, if an acquisition deal does happen, strong returns would likely be seen by investors. As a result, the comments that the company is confident of a deal over the next 30 days led to an investor frenzy.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on P stock. In particular, we’re interested in following the news of this potential deal in the works. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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