Sarepta Therapeutics Inc (NASDAQ: SRPT) is having an incredibly interesting start to the trading session this morning. The stock started in the green early this morning before quickly diving into the red. While it seemed as though the stock would spend the rest of the day in the red, the stock quickly started spiking minutes ago as rumors broke. Of course, our partners at Trade Ideas were the first to alert us to the spike. At the moment (10:40), SRPT is trading at $39.42 per share after a gain of $0.15 per share (0.37%) thus far today.
SRPT Spikes On Takeover Chatter
As mentioned above, Sarepta Therapeutics is having an interesting day in the trading session today. After falling into the red early on, the stock started to climb minutes ago as rumors started to break. The rumors suggest that the company will soon be taken over. However, like most takeover rumors that happen in the market, this one is overwhelmingly vague. There is no insinuation as to who is interested in taking the company over or at what price.
With all of that said, any time I see rumors like this in the market, it’s important that I put out a reminder. At the end of the day, these rumors are nothing new. We had 2 of them yesterday and will likely continue to see takeover rumors until the world ends. Nonetheless, like most rumors, stock market rumors are very rarely based on fact. At the end of the day, the rumor surrounding SRPT is overwhelmingly vague, following the same trend that most of the invalid rumors we see follow. As a result, this one is not likely true. So, if you’re going to trade on this news, please be sure to do so with caution.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on SRPT. In particular, we’re interested in following the story to see if a takeover does indeed take place. While we do not believe that the rumor holds any validity, anything can happen in the market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!