Whole Foods Market, Inc. (NASDAQ: WFM)
Whole Foods Market was off to a relatively rough start early on in the session today. In fact, the stock even fell into the red for a short while. Nonetheless, recently the stock started to gain in a big way, and we believe we’ve found the reason. Below, we’ll talk about what we’re seeing from the stock, why, and what we can expect to see from WFM ahead.
What We’re Seeing From WFM
As mentioned above, Whole Foods Market was off to a relatively rough start to the day today, falling into the red early on. However, the session is changing, and it’s happening quickly, as the stock starts to spike toward the top. Currently (10:09), WFM is trading at $29.39 per share after a gain of $0.46 per share (1.59%) thus far today.
What’s Causing The Spike?
The spike in the value of WFM was actually relatively easy to pin down. Late last week, the company dealt with a headache, but chatter started to pop up that Icahn may take the company private. While we have seen no update from the company or Icahn himself, we have seen quite a bit of social chatter.
Essentially, investors are hoping that Icahn is going to take the company private. Of course, if he does, it would be a great thing for Whole Foods Market shareholders.
What We’ll Be Watching For Ahead
At CNA Finance, we’ll be keeping a close eye on this story as it develops. However, we don’t want to get your hopes up for something we don’t believe is going to happen. At the end of the day, Icahn taking WFM private would be a great thing for investors. However, it wouldn’t be a very smart move for Icahn. Considering that the man is a genius, I simply couldn’t imagine him actually taking the risk of taking the company private!
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[Image Courtesy of Flickr]