Teva Pharmaceutical Industries Ltd (ADR) (NYSE: TEVA)
Teva Pharmaceutical Industries was off to a relatively normal start to the trading session today. While the stock had fallen into the red, it wasn’t down by much, and nothing was too exciting about the movement. Nonetheless, that all changed minutes ago as the stock started to rocket toward the top. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to TEVA ahead.
What We’re Seeing From TEVA
As mentioned above, Teva Pharmaceutical Industries looked like it was going to have a normal day in the market today early on. However, that changed relatively quickly when, just minutes ago, the stock started spiking into the green and beyond. At the moment (10:25), TEVA is trading at $38.12 per share after a gain of $0.26 per share (0.69%) thus far today.
Why The Stock Is Spiking
As always, as soon as we noticed that TEVA was making a run for the top, the CNA Finance team started digging to see what we could uncover as the reason for the movement. While the company hasn’t released any fundamental news that would suggest such strong gains were validated, we did find something in the social space.
At the moment, there’s a big rumor circling around the realm of social media. According to this rumor, Teva Pharmaceutical Industries is the target of a takeover. Now, keep in mind that this is just a rumor at this point, and a very vague one at that. We don’t know who the potential buyer is, nor has the company confirmed that it has even received an offer.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on TEVA to see if these rumors come to fruition. However, we’ve seen these types of rumors quite a bit, and historically, they are usually duds. Nonetheless, we’ll watch the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!
[Image Courtesy of Wikimedia]