TerraForm Power Inc (NASDAQ: TERP)
TerraForm Power is having an incredibly strong day in the market today. Since the opening bell rang, the stock has been trading in the green and only climbing higher throughout the session. Below, we’ll talk about what we’re seeing from the stock, why, and what we will be watching for with regard to TERP ahead.
What We’re Seeing Fro TERP
As mentioned above, TerraForm Power is having an incredibly strong day in the market today. On the opening bell, the stock found itself in the green. Throughout the session, we’ve seen a slow, yet steady continuation of gains. At the moment (2:05), TERP is trading at $12.62 per share after a gain of $0.22 per share or 1.77% thus far today.
Why The Stock Is Growing
As usual, as soon as we noticed the gains on TERP, the CNA Finance team started digging to see exactly what was causing the movement. In this particular case, it wasn’t hard to find the news. The gains are the result of an announcement made by the company.
In an announcement made earlier today, TerraForm Power investors learned that the company is exploring strategic alternatives, including the sale of assets or the entire company. As a result, the company has asked bidders to provide firm pricing by early January. Of course, this is big news and investors are excited.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on the TERP story. In particular, we’ll be watching for bids for the company. It will be interesting to see who expresses interest and at what value. Nonetheless, we’ll be watching the story closely and bringing it to you as it breaks!
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