Workday Inc (NYSE: WDAY)
Workday is off to an incredibly strong start to the trading session today. When the opening bell rang, the stock immediately started on a run toward the top. Throughout the morning, that run continued. However, news just came down the wire that the stock has been halted. Below, we'll talk about what we're seeing, why, and what we'll be watching for with regard to WDAY ahead.
What We're Seeing From WDAY
As mentioned above, Workday is having an incredibly strong day in the market today. As soon as the trading session started, the stock started running upward. From the bell, we've seen a continuation of gains throughout the morning. However, at 11:10, news came down the wire that the stock has been halted. Currently (11:10), WDAY is trading at $80.69 per share after a gain of $6.34 per share (8.53%) thus far today.
Why We're Seeing What We're Seeing
As is almost always the case, our partners at Trade Ideas were the first to inform us of the movement on WDAY, and the eventual halt. As soon as they informed us of the halt, the CNA Finance team started digging to see exactly what was happening. As is normally the case, there is no news available with regard to the halt.
At the end of the day, we know that the stock was soaring in the morning, we know that the stock has been halted, and we know that halts are usually followed by big news. However, what that big news is and when it will be available is still a mystery at the moment.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be paying close attention to WDAY. In particular, we're interested in learning more about the halt, the cause of the halt, and what's going to happen next. We'll keep a close eye on the news and bring the story to you as it breaks!
UPDATE: WDAY is announcing a new deal with WMT. No updates to guidance have been made as of yet.
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[Image Courtesy of Wikimedia]