Why Acacia Communications Stock Jumped Today
Shares of Acacia Communications (NASDAQ: ACIA) spiked today after the company said that it would terminate a merger agreement with Cisco Systems (NASDAQ: CSCO).
The tech stock gained as much as 13.6% today and was up by 13% as of 11:03 a.m. EST.
Acacia said that it no longer has an obligation to close the merger because the agreement didn't get the necessary regulatory approvals.
Source Fool.com
