Why Akamai Technologies, Inc. Stock Popped Today
Shares of Akamai Technologies Inc. (NASDAQ: AKAM) were up 13.6% as of 12:30 p.m. EST Monday after news that an activist investor has acquired a large stake in the internet bandwidth efficiency leader. More specifically, according to an SEC filing late Friday, Elliott Management has amassed a position representing roughly 6.5% of Akamai's common shares outstanding.
Such significant large stakes are typically followed by pressure from the activist investor for the company to take action to generate incremental shareholder value.
IMAGE SOURCE: GETTY IMAGES.
Source: Fool.com