Perrigo (NYSE: PRGO)
Perrigo is having a rough day in the market thus far today. However, if history is any indication, we’re going to see a spike toward the green relatively soon. Below, we’ll talk about what we’re seeing from the stock, why we believe a spike is coming, and what we’ll be watching for ahead.
What We’re Seeing From PRGO
As mentioned above, Perrigo isn’t having the best of days in the market today. In fact, the stock was in the red at the opening bell and only seemed to fall further as the day continued. However, within minutes, we expect to see a spike in value that could take the stock into the green. Currently (2:14), PRGO is trading at $87.72 per share after a loss of $1.44 per share (1.62%) thus far today.
Why We Believe The Stock Is Going To Spike
Recently, we’ve been noticing an interesting rumor popping up in social media. At the moment, there’s chatter suggesting that PRGO has canceled a conference. At first glance, that may not seem like a big deal. However, canceled conferences often lead to big movement.
The reason for the movement is relatively simple. There are only so many reasons a conference could be canceled. One of the reasons – and the reason that investors all seem to hope for – is an acquisition on the horizon. After all, if Perrigo is going to be acquired, it has to go through a blackout period in which the company doesn’t offer any news. That could be what’s happening.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will keep a close eye on what happens with PRGO. However, it’s important to remember that, at the moment, the social chatter is nothing more than rumor. Nonetheless, if the conference is indeed canceled, we can expect to see a spike as investors await news of a possible acquisition. We’ll be watching the stock closely and bringing the news to you as it breaks!
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[Image Courtesy of Pixabay]