Teva Pharmaceutical Industries Ltd (ADR) (NYSE: TEVA)
Teva Pharmaceutical Industries was off to a relatively normal start in the market today. However, minutes ago, all normality associated with the movement flew out the window as the stock started to skyrocket. Below, we’ll talk about what we’re seeing from the stock, why, and what we can expect to see from TEVA ahead.
What We’re Seeing From TEVA
As mentioned above, Teva Pharmaceutical Industries was off to a relatively normal trading session by all accounts. While the stock was in the green early, gains weren’t really much to write home about. However, minutes ago, that started to change as the stock started to skyrocket. Currently (10:14), TEVA is trading at $43.87 per share after a gain of $0.75 per share or 1.74% thus far today.
Why The Gains Are Happening
As soon as we noticed the spike in the value of TEVA, the CNA Finance team started to digging to see what the gains were all about. While the company has not released any fundamental news that would have caused the spike, we believe we found the cause.
There’s quite a bit of chatter on social media at the moment. Essentially, the chatter is revolving around the idea that Teva Pharmaceutical Industries may be acquired. We know that nothing seems to get investors quite as excited as a possible acquisition, so the gains on TEVA are definitely making sesnse.
What I’m Expecting To See Ahead
In the short run, we can expect to see further gains as acquisition rumors fuel excitement. However, it’s important to remember that this is just a rumor at this point. There has been no confirmation from TEVA that an acquisition is going to happen. Nonetheless, this doesn’t change my long run view. Teva Pharmaceutical Industries is a great company with a great product like and will likely see big gains ahead!
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[Image Courtesy of Wikimedia]