Why Stratasys Stock Blasted 13% Higher Today
3D printing company Stratasys (NASDAQ: SSYS) is now in play, and investors quickly got into the action on Tuesday. On news that a peer has made a preliminary offer at a generous premium, those folks piled into the stock and pushed its price 13% higher on the day. That was well above the 0.4% increase of the S&P 500 index across the trading session.
On Sunday, Stratasys divulged in a press release that it received an unsolicited, preliminary buyout offer from specialty electronics company Nano Dimension (NASDAQ: NNDM) at a price of $16.50 per share. That's nearly 26% higher than Stratasys' most recent closing stock price.
The announcement came less than three months after Stratasys launched a review of strategic alternatives for its future. Typically, when a company speaks of "strategic alternatives," it is considering a sale, among other business-saving measures.
Source Fool.com
