Walt Disney Co (NYSE: DIS) is having a strong start to the trading session this morning, and it’s all fueled by rumors. Rumor has it that the company is finally going to be acquired, and that’s leading to excitement among investors. Of course, the excitement is causing gains, which prompted our partners at Trade Ideas to alert us to the movement. At the moment (10:20), DIS is trading at $108.44 per share after a gain of $2.19 per share or 2.06% thus far today.
DIS Gains On Takeover Rumors
Disney has been an interesting stock to watch over the past several months. That’s because takeover rumors have been flying around the company like figurative flies on a heaping pile of dog dung. Today, yet another one of these rumors is breaking. In fact, the rumor suggests that DIS will soon be taken over by Verizon Communications Inc (NYSE:VZ). While the rumor does suggest a buyer, it does not suggest at what price an acquisition may happen.
Keep in mind that rumors are something that we see in the market all the time. When it comes to DIS, we’ve seen several rumors over the past several months. In fact, this isn’t even the first time that Verizon has been rumored to be acquiring the company. However, few rumors in the market ever come to fruition, and this one isn’t likely to be true either. While VZ would benefit from acquiring DIS, the fact that we’ve seen this same rumor time and time again with nothing followed through on it suggests that this is just another rumor that will quickly fade.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on DIS. In particular, we’re interested in learning if there is any validity to the rumors that are breaking today. While we don’t believe that this acquisition is going to take place, anything can happen in the market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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