salesforce.com, inc. (NYSE: CRM) is having an incredibly strong start to the trading session this morning, and for good reason. The company is the center of a takeover rumor that seems to be exciting investors. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:01), CRM is trading at $86.67 per share after a gain of $0.40 per share or 0.46% thus far today.
CRM Takeover Chatter
As mentioned above, salesforce.com is having a strong time in the market at the moment, spiking upward as I write this. The gains are ultimately the result of takeover chatter surrounding the stock. These rumors are like most rumors. Unfortunately, there's not much information as of yet. The rumor simply suggests that the company will be taken over with no insinuation of who the buyer might be or at what price.
Nonetheless, this is definitely causing a bit of movement in the stock. However, it's important to keep in mind that we see takeover rumors all the time. Very few of these rumors ever come to fruition. Given the lack of information associated with the CRM rumor, we believe that it lacks validity. Nonetheless, we'll continue to follow the story closely and bring the news to you as it breaks!
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CRM. In particular, we'll be following the rumor closely to see if the takeover does happen. While we don't believe it to be valid, anything can happen in the market. Nonetheless, we'll continue to follow the news closely and bring it to you as it breaks!
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