WebMD Health Corp. (NASDAQ: WBMD)
WebMD Health is having a pretty good in the market today, but that's not necessarily how it started. In fact, at the open of the trading session, the stock was trading slightly in the red. From there, the stock continued on a downward path. That is, until minutes ago when the stock started to spike toward the top. Below, we'll talk about what we're seeing from WBMD, why, and what we'll be watching for ahead.
What We're Seeing From WBMD
As mentioned above, WebMD Health wasn't off to the best of starts in the trading session today. When the session started, the stock was trading slightly in the red before continuing downward further and further into the abyss. Nonetheless, minutes ago, that all changed as the stock started to spike upward. At the moment (11:22), WBMD is trading at $52.34 per share after a gain of $0.32 per share or 0.61% thus far today.
Why The Stock Is Gaining
As is usually the case, our partners at Trade Ideas were the first to inform us of the upward movement on WBMD. As soon as the CNA Finance team received the alert, we started digging to see why the stock was making a run for the top. It didn't take long to dig up the story. It seems as though the gains are the result of an activist stake that was announced earlier today.
Early today, investors got their hands on a 13D form filed around WebMD Health. The filing was processed by Blue Harbour Group, L.P. 13D filings are filings that inform investors of beneficial ownership changes. This is most commonly referred by investors as activist ownership. Ultimately, investors are hoping that Blue Harbour Group will push the company in the right direction.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on WBMD. In particular, we are interested in the changes we will see following the news of activist investor ownership. Nonetheless, as always, we'll keep a close eye on the news and continue to bring it to you as it breaks!
[Image Courtesy of Wikipedia]
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