Why JFrog Stock Flew Nearly 5% Higher on Friday
On the last trading day of the week, investors traded on rumor rather than hard news about software tools specialist JFrog (NASDAQ: FROG). After a media report stated that several potential acquirers are circling around the company, market players bid the shares up by just under 5% on the day. That performance trounced the 0.8% increase of the benchmark S&P 500 index.
In an article originally published before market open, Bloomberg wrote that JFrog is being considered for buyout offers from several private equity firms. Citing unnamed "people with knowledge of the matter," the financial news agency added that these entities include Permira and Hellman & Friedman.
So far, this interest has been expressed in a series of what Bloomberg described as "early looks" at the highly specialized tech company. The article's sources said that these are not guaranteed to lead to a buyout.
Source Fool.com
