Staples, Inc. (NASDAQ: SPLS)
Staples is having an incredibly strong start to the trading session today. After starting the session off slightly in the red, news broke that excited investors, leading to gains and prompting our partners at Trade Ideas to alert us t0 the movement. At the moment (9:38), SPLS is trading at $9.75 per share after a gain of $1.07 per share (12.30%) thus far today.
Why SPLS Is Rocketing Upward
As mentioned above, Staples is having a strong start to the trading session, and it’s happening for a good reason. News is breaking that the company is exploring a sale. According to various reports, the company is in talks with several private equity firms to gauge interest with regard to selling itself. Now, these talks are very early on, and there is not much information with regard to how they are going. Nonetheless, investors are definitely excited about the news.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching SPLS incredibly closely. In particular, we’re interested in following the company through the sale exploration process. After all, if a sale does happen, chances are that it will return incredible value to shareholders. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
What Do You Think?
Where do you think SPLS is headed moving forward? Join the discussion in the comments below!
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