Ruby Tuesday, Inc. (NYSE: RT)
Ruby Tuesday is having an incredibly strong start to the trading session today. In the pre-market hours, news was announced that caused excitement within the investing community. As a result, the stock started to climb in a big way. Below, we’ll talk about what we’re seeing from RT, why, and what we’ll be watching for with regard to the stock ahead.
What We’re Seeing From RT
As mentioned above, today is proving to be a strong day for Ruby Tuesday. Since early in the pre-market hours, the stock has been headed upward. At the moment, the gains seem to be continuing. At the moment (9:32), RT is trading at $2.00 per share after a gain of $0.26 per share or 14.94% thus far today.
Why The Stock Is Headed Up
As is almost always the case, the news that RT was making a run for the top was first brought to us by our partners at Trade Ideas. As soon as we received the alert, the CNA Finance team started working to see why the stock was rocketing toward the top. It didn’t take long to dig up the story. The gains are ultimately the result of merger/acquisition hopes.
Early this morning, it was announced that Ruby Tuesday may be interested in selling itself. In fact, the company is currently working to explore the possibility of a sale, a merger, or other strategic options. Of course, this caused excitement among the investing community as these options would likely generate incredible value for shareholders. As a result, investors pushed the value of the stock upward.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on RT. In particular, we’re interested in learning whether or not the company will be selling or merging. If not, what other strategic opportunities are being explored? Nonetheless, we’ll continue to follow the story closely and bring the news to you as it evolves.
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[Image Courtesy of Wikimedia]