Teva Pharmaceutical Industries Ltd (ADR) (NYSE: TEVA) is having an interesting day in the market today. While the stock has seen some ups and downs, most recently the stock has been spiking as the result of a rumor. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:59), TEVA is trading at $17.74 per share after a gain of $0.25 per share (1.40%) thus far today.
Teva Spikes On Activist Rumors
As mentioned above, Teva Pharmaceutical Industries is having an interesting day in the market today after rumors started to surface surrounding the company. The rumors suggest that an activist investor will soon take a meaningful percentage of the company. However, who that activist investor might be and how much of an investment may be made is not included in the rumor.
With that said, it's important to keep in mind that rumors happen all the time in the market. Very few of these rumors ever prove to be true. While TEVA surely could use an activist investor, this rumor seems to be invalid. First and foremost, it's nearly impossible to track down the source of the rumor. That mixed with the fact that the rumor is overwhelmingly vague leads tells me not to get my hopes up, and it should be telling you the same thing!
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on TEVA. In particular, we're interested in following the company to see if the rumors are indeed valid. Of course, if the rumors are valid, we could expect to see some big news soon. Nonetheless, don't get your hopes up. We'll continue to follow the story closely and bring the news to you as it breaks!
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