Zoetis Inc (NYSE: ZTS)
Zoetis was off to a relatively normal day in the market today. Teetering just above or just below the line today, the stock hasn’t been much to watch. That is, until recently. Minutes ago, the stock started to take a turn for the worst, and we believe we know why. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching for with regard to ZTS ahead.
What We’re Seeing From ZTS
As mentioned above, Zoetis was off to a relatively normal start to the day. While the stock was in the green at times and the red at times, there really wasn’t much that was particularly special to watch. That is, until minutes ago when the stock started to slide. Currently (12:08), ZTS is trading at $50.84 per share after a loss of $0.16 per share or 0.31% thus far today.
Why Is The Stock Sliding Downward
As soon as we noticed the movement on the stock, the CNA Finance team started digging to see why exactly it was falling. While the company hasn’t released any fundamental news, we do believe we’ve found the cause.
Looking through social media, we’re seeing quite a bit of chatter surrounding ZTS, and unfortunately, it’s not positive news. According to the social rumors, Bill Ackman has sold his stake in the company; a stake that is relatively large. As a result, investors are reacting by selling their shares of Zoetis as well.
What We’ll Be Watching Ahead
First and foremost, it’s important to keep in mind that what we’re seeing at the moment is a rumor. Rumors happen often in the market, and like what we’re seeing with ZTS, they generally make pretty big waves. However, they are rarely true. With that said, we’ll be watching the story closely and bringin you the news as it develops!
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[Image Courtesy of Wikimedia]