Loading...
Loading...
shares were seen trading higher by $1.40 at $15.86 in Monday's session. The catalyst for the rally is unconfirmed rumors that the company has hired an investment banker after being approached by
General Electric CompanyGE earlier Monday.
After a flat open, the issue immediately bottomed just under Friday's close ($14.46) at $14.32 and was beginning to inch higher, when the rumors surfaced around 9:40 a.m.
So far, the ensuing rally has taken the issue to $15.96 and is not far off that level as of 11:00 a.m. The issue has not traded in the $16 handle since October 12 when it peaked at $16.72. Also, it has not closed over $16, since the day prior when it ended that session at $16.69.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in