Qorvo Inc (NASDAQ: QRVO) was off to a relatively normal day in the market early on this morning. However, the stock started to find its way upward minutes ago as rumors broke. As is normally, the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:50), QRVO is trading at $66.38 per share after a gain of $0.45 per share (0.68%) thus far today.
QRVO Gains Big On Takeover Chatter
As mentioned above, Qorvo was off to a relatively normal day in the market early on. However, that all changed minutes ago as rumors started to fly and the stock started to find its way upward. The rumors suggest that QRVO may soon be taken over. However, they are also incredibly vague. The rumors don’t indicate who the buyer of the company might be, nor at what price the takeover may happen… hmmm… something smells fishy here!
The bottom line is that we see takeover rumors in the market all the time. Unfortunately, most of them prove to be false. Considering that this rumor is only seen floating around social media, it is overwhelmingly vague, and it seems as though tracking down the source of the rumor is nearly impossible, I wouldn’t get my hopes up about this being true. So, if you’re going to trade based on this rumor, please do so with caution.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on QRVO. In particular, we’re interested in seeing if there is any validity to the rumor mentioned above. While we don’t believe that a takeover is going to happen, anything can happen in the market, and such a move would return incredible value to shareholders. We’ll continue to follow the story closely and bring the news to you as it breaks!
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