Zoetis Inc (NYSE: ZTS)
Zoetis is having an incredibly strong start to the trading session today. When the opening bell rang, the stock was trading well into the green. From there, it climbed a bit before correcting. Nonetheless, the spike has started again. Minutes ago, the stock made a mad dash upward. Below, we’ll talk about what we’re seeing from ZTS, why, and what we’ll be watching for ahead.
What We’re Seeing From ZTS
As mentioned above, Zoetis is off to a relatively strong start in the market today. When the opening bell rang, the stock was already trading green. Shortly thereafter, we saw a spike upward before a correction. Nonetheless, the stock has stayed in the green all day. Then, minutes ago, we started to see another spike. At the moment (10:09), ZTS is trading at $53.59 per share after a gain of $0.47 per share (0.89%) thus far today.
Why The Stock Is Climbing
When we received the alert from our partners at Trade Ideas that ZTS was making another run upward, the CNA Finance team started digging to see what was causing the movement. While we were unable to find any fundamental news that would suggest that such strong gains were coming, we did find an interesting rumor.
At the moment, there’s a rumor surfacing that the company is going to be taken over soon. According to the rumor, Boehringer is interested in dominating the global space with a strong takeover, and many believe that Zoetis is the company that’s going to be taken over. However, there has been no indication from either side that this will actually be the case.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ZTS. In particular, we’re interested in learning more about this potential takeover and whether or not it’s actually going to happen. We’ll watch the news closely and bring it to you as it breaks!
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