Why Snap One Holdings Stock Was Crushing It This Week
The stock of smart home products and services specialist Snap One Holdings (NASDAQ: SNPO) felt like a very smart investment this week. A premium-priced buyout deal sent the company's shares rocketing well higher in price, to the point where they had risen by 30% week to date before market open on Friday, according to data compiled by S&P Global Market Intelligence.
The new owner of Snap One is set to be home tech products maker Resideo Technologies (NYSE: REZI). The two companies announced in a joint press release Monday that they agreed Resideo will purchase Snap One for $10.75 per share. The transaction will be effected fully in cash, and is valued at a total of roughly $1.4 billion inclusive of net debt.
That price was 32% above Snap One's closing level one trading day before the deal was made public. Friday morning, the company's share price was hovering just under $10.60, indicating at least some skepticism that the transaction would be completed, at least at the agreed price.
Source Fool.com
Snap Inc Stock
Our community is currently high on Snap Inc with 11 Buy predictions and 5 Sell predictions.
However, we have a potential of -10.26% for Snap Inc as the target price of 14 € is below the current price of 15.6 €.
