Qorvo Inc (NASDAQ: QRVO)
Qorvo was off to a relatively normal start to the trading session today. After starting the day off in the green, the stock made a slight run downward for the first 20 minutes or so. Nonetheless, minutes ago, the stock started climbing dramatically. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching for with regard to QRVO ahead.
What We’re Seeing From QRVO
As mentioned above, Qorvo seemed to be having a relatively normal day in the market today. When the opening bell rang, the stock was already in the green, and while it started to fall slightly for the first few minutes, something changed minutes ago. At the moment, the stock is skyrocketing. Currently (9:59), QRVO is trading at $55.02 per share after a gain of $1.43 per share (2.67%) thus far today.
Why The Stock Is Climbing
As usual, as soon as our partners at Trade Ideas informed us that QRVO was making a run for the top, the CNA Finance team did some digging to see exactly what was causing the movement. It didn’t take very long to dig up the story. While there was no fundamental news released surrounding the company, we were able to find something interesting in social.
At the moment, if you look to your favorite social network and search for Qorvo, chances are that you will see a rumor. That rumor is that the company is likely to be taken over relatively soon. Now, the rumor is unconfirmed, and to be honest, it’s quite vague. Nonetheless, this seems to be what has investors so excited.
What We’ll Be Watching Moving Forward
Moving forward, the CNA Finance team will be keeping a close eye on QRVO. In particular, we’re interested in seeing if the takeover rumor amounts to anything. However, it’s important to remember that in the world of rumors, few are true. Nonetheless we’ll be keeping a close eye on the news and bringing it to you as it breaks.
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