Why Vizio Stock Rocketed 25% Higher Today
Scores of investors tuned in to TV manufacturer Vizio's (NYSE: VZIO) stock on Tuesday following reports that the company is a potential acquisition target. An excited market traded the shares up by nearly 24% on the day, providing a sharp contrast to the 1.4% slump of the S 500 index.
An article published that day in The Wall Street Journal stated that Vizio is in talks with retail giant (NYSE: WMT) regarding a sale. Quoting unidentified "people familiar with the matter," the financial newspaper said that the discussions center around Walmart purchasing Vizio for over $2 billion.
The added that Walmart is interested in acquiring the company in order to gain more places where it can place its ads and promote its wares.
Source Fool.com
Walmart Inc. Stock
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7.180%
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