Whole Foods Market, Inc. (NASDAQ: WFM)
Whole Foods Market is having an incredibly strong day in the market today. Since the opening bell, the stock has been running upward and looks to be continuing on that path. After a bit of digging around, we believe that we’ve uncovered the reason for the run. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to WFM ahead.
What We’re Seeing From WFM
As mentioned above, Whole Foods Market had a strong start to the trading session and the gains on the stock have continued all day. Currently (12:42), WFM is trading at $31.87 per share after a gain of $1.57 per share (5.18%) thus far today.
Why We’re Seeing The Gains
When we noticed how high WFM had climbed in the market, the CNA Finance team started digging to see exactly what was happening. Unfortunately, the company hasn’t released any fundamental news that would suggest that these gains are warranted. Nonetheless, we are seeing quite a bit of chatter on social media.
In the social space, it looks like investors are expecting one of two things to happen. First and foremost, there are rumors that a possible acquisition is coming down the line. Of course, we know how investors react to acquisition rumors. However, Whole Foods Market has not commented on these rumors.
Another bit of the movement seems to be caused by the idea that an activist investor is getting involved in a big way. Again, this is another rumor. There is no solid evidence that validates these claims, but this could be another good thing for WFM.
What We’ll Be Watching For Ahead
The truth is that with no confirmation from WFM, we’re simply flying blind between the rumors. Nonetheless, the CNA Finance team will be keeping a close eye on the story and we will update you as soon as we dig anything new up!
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[Image Courtesy of Wikimedia]