Tempur Sealy International Inc (NYSE: TPX)
Tempur Sealy International was having what seemed to be a rough start to the trading session today. When the opening bell rang, the stock was trading well into the red, where it stayed for just about the first hour. However, minutes ago the stock started to spike upward in a big way, bringing it into the green. Below, we’ll talk about what we’re seeing from TPX, why, and what we’ll be watching for with regard to the stock ahead.
What We’re Seeing From TPX
As mentioned above, Tempur Sealy International didn’t look like it was going to have the best of days in the market today. When the opening bell rang, the stock was trading well into the red. Throughout nearly the first hour, the stock saw ups and downs, but remained in the red. However, things changed minutes ago as it started spiking toward the top. At the moment, TPX is trading at $43.66 per share after a gain of $0.17 per share (0.39%) thus far today.
Why The Stock Is Spiking
As is almost always the case, our partners at Trade Ideas were the first to inform us of the gains on TPX. As soon as they did, the CNA Finance team started digging to see why the stock was making a run for the top. While we didn’t find any fundamental news released by the company that would lead to such gains, we were able to find something interesting. It seems as though the gains are the result of a rumor that’s surfacing in the social space.
At the moment, if you search your favorite social network for Tempur Sealy International, chances are that you’ll come across the rumor. The rumor suggests that the company is going to be taken over relatively soon. However, this one is about as vague as they get. There’s no indication of who the buyer is or at what price, and it’s important to keep in mind that the rumor is unconfirmed.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on TPX. In particular, we’re interested in learning if there is any validity to the rumor. After all, if there is, the takeover could return tremendous value to shareholders. We’ll be watching the news closely and bringing it to you as it breaks!
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