Yelp Inc (NYSE: YELP)
Yelp is having a pretty strong start to the trading session today. However, the reason isn’t all that great. You see, there’s vague takeover chatter circling the stock at the moment. Nonetheless, this is exciting the investing community, leading to gains and prompting our partners at Trade Ideas to alert us to the movement. At the moment (10:35), YELP is trading at $33.24 per share after a gain of $0.39 per share (1.19%) thus far today.
YELP Gains On Takeover Chatter
As mentioned above, YELP is having a decent start to the trading session today after takeover chatter recently broke surrounding the stock. The truth is that the rumors surrounding a potential Yelp takeover are very vague. There is no insinuation of who the buyer might be or at what price. Nonetheless, this is exciting to the investing community and it is causing a small spike in the value of the stock.
It’s important to keep in mind that this is nothing more than a rumor, and a very vague one at that. At the end of the day, these rumors are nothing new to the market. In fact, we see takeover rumors nearly every trading session, and very few of them prove to be valid. Considering recent rumors surrounding YELP proving to be invalid and the fact that this one is overwhelmingly vague, we’re not expecting a takeover to actually happen.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on YELP. In particular, we’re watching to see if a takeover does indeed happen. While we believe the rumors to be invalid, anything can happen in the market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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[Image Courtesy of Max Pixel]