Vipshop Holdings Ltd – ADR (NYSE: VIPS) is off to a pretty strong day in the market after rumors started to surface that the company may be taken over soon. Of course, this caused excitement among investors, leading to the gains. As is almost always the case, our partners at Trade Ideas were the first to alert us to the movement. At the moment (9:43), VIPS is trading at $12.71 per share after a gain of $0.34 per share (2.74%) thus far today.
VIPS Gains On Takeover Chatter
As mentioned above, Vipshop Holdings is having a strong start to the trading session this morning as takeover rumors swarm social media. The rumor, in this case, is overwhelmingly vague. While many are pointing to the fact that the rumor has surfaced, no one seems to have any idea who the suggested buyer is or at what price the takeover might happen.
With that said, it’s important to keep in mind that rumors are nothing new in the stock market. In fact, they happen all the time. Unfortunately, most of these rumors prove to be false. Considering the fact that there’s not much information on this one, you can’t track it to a source, and VIPS themselves don’t have anything to offer with regard to the rumor, this one is likely false as well. So, if you’re going to trade on this news, please do so with caution.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on VIPS. In particular, we’re interested in following the takeover chatter to see if there is any validity to the rumors. While we don’t believe this to be the case, anything can happen. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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