Valeant Pharmaceuticals Intl Inc (NYSE: VRX)
Valeant Pharmaceuticals was off to what seemed to be a relatively normal day in the market today. When the opening bell rang, the stock was trading slightly in the green. While it has seen its ups and downs throughout the session so far, the trend was positive overall. Then, minutes ago, the stock started spiking. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching for with regard to VRX ahead.
What We’re Seeing From VRX
As mentioned above, Valeant Pharmaceuticals was having a normal day in the market today. When the opening bell, the stock was trading slightly in the green. From there the battle between the bulls and the bears commenced, with the bulls proving to win the battle overall. However, nothing was exciting enough to write home about. That all changed minutes ago as the stock started spiking toward the top. Currently (12:20), VRX is trading at $14.15 per share after a gain of $0.57 per share (4.20%) thus far today.
Why The Stock Is Gaining
Our partners at Trade Ideas were the first to inform us of the gains on VRX. As soon as they did, the CNA Finance team started digging to see exactly what was causing the stock. It didn’t take long to dig up the story. In this particular case, it seems as though speculation surrounding a potential buyout is the reason for the spike.
At the moment, if you do a quick search for Valeant Pharmaceuticals on your favorite social network, you’ll see an interesting story. The idea as that the company’s Eastern European assets are drawing potential buyout interest. Now, at the moment, there is no confirmation and no company has come out and made an offer. But, if the interest is there, it could be the breath of fresh air that VRX investors have been waiting for.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on VRX. In particular, we’ll be watching to see if any offers are made for a buyout any time soon. We’ll keep a close eye on the news and bring it to you as it breaks!
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[Image Courtesy of Wikimedia]