Tableau Software Inc (NYSE: DATA)
Tableau Software is having a relatively strong day in the market today. When the opening bell rang, the stock found itself on highs. From there, it ran downward until minutes ago when the stock started to spike just before breaking into the red. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching for with regard to DATA ahead.
What We’re Seeing From DATA
As mentioned above, Tableau Software is having an interesting day in the market today. After starting the day off up in a strong way, the stock started spiking toward losses. Nonetheless, just before the price hit the red line, the stock reversed and started spiking higher into the green. At the moment (10:24), DATA is trading at $46.81 per share after a gain of $1.15 per share or 2.52% thus far today.
Why The Stock Is Spiking
As always, when the CNA Finance team was notified by Trade Ideas that DATA was spiking upward, we started to do some digging to see exactly what was causing the movement. In this particular case, we didn’t find any fundamental news that would be likely to lead to such gains. Nonetheless, we did find something in social that seems to be the culprit.
All over social media at the moment, we’re seeing chatter surrounding Tableau Software. That chatter is a rumor suggesting that the company will soon be acquired. In this case, the rumor is incredibly vague, with no buyer or price mentioned. Nonetheless, it’s enough to excite the investing community and get the stock to head up.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a very close eye on the DATA story. Of course, we want to know if the rumors of an acquisition are true or if it’s just another social chatter day. Nonetheless, we’ll follow the story and bring the news to you as it breaks!
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[Image Courtesy of Wikimedia]