Whole Foods Market, Inc. (NASDAQ: WFM) was off to a relatively normal day in the market early on today. However, that all changed minutes ago as a takeover rumor started to hit the news feeds. This ultimately led to investor excitement and gains in the value of the stock. As is normally always the case, our partners at Trade Ideas were the first to inform us of the gains. At the moment (1:29), WFM is trading at $36.43 per share after a gain of $0.72 per share (2.01%) thus far today.
WFM May Be Taken Over
As mentioned above, Whole Foods Market was off to a relatively normal day in the market today until minutes ago when the stock started to spike as the result of a rumor. The rumor suggests that the company will soon be taken over. In fact, the story is that Albertsons is currently exploring a takeover bid.
While this news is moving WFM in a big way, it’s important to keep in mind that none of this is confirmed. At the end of the day, we see takeover chatter all the time in the market, and for the most part, the stories never come to fruition. So, if you’re gong to trade on this news, make sure to move with caution.
Stop wasting your time! Find winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on WFM. In particular, we’re interested in learning more about the potential takeover to come and whether or not it will indeed happen. We’ll continue to follow the story closely and bring the news to you as it breaks!
Want The News Faster?
Check out the CNA Finance News Desk to get the scoop before we even have time to write the full story!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!
[Image Courtesy of Wikimedia]