Vodafone Group and Liberty Global were both off to a normal day in the market today. After starting the day slightly in the green, both stocks found their way on slow and steady uptrends. That is, until minutes ago when VOD and LBTYA both made a run for the top. Below, we'll talk about what's going on with the stocks, why, and what we'll be watching for ahead.
What We're Seeing From VOD And LBTYA
As mentioned above, both Vodafone Group and Liberty Global stock had a pretty decent start to the trading session today. At the opening bell, both stocks were trading slightly in the green before going on a steady upward climb. Then, minutes ago, both stocks spiked in a big way. At the moment (1:00), VOD is trading at $26.04 per share after a gain of $0.84 per share or 3.33% while LBTYA trades at $37.13 per share after a gain of $1.34 per share or 3.74% thus far today.
Why The Stocks Are Climbing
As is almost always the case, our partners at Trade Ideas were the first to inform us of the spikes on VOD and LBTYA. As soon as we received the alert, the CNA Finance team started working to see why the stocks were making a run for the top. It didn't take long to dig up the story. The gains seem to be the result of a potential merger in the works.
Minutes ago, it was announced that Vodafone Group and Liberty Global have decided to sit at the deal table once again. The companies are in the process of negotiating a potential merger. Of course, if a merger did happen, the investors on both sides would benefit. As a result, investor excitement is sending the stock skyward.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on both VOD and LBTYA. In particular, we're interested in learning more about the merger talks and whether or not a merger will actually take place. Nonetheless, we'll continue to follow the story closely and bring you the news as it breaks!
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