Why Barracuda Networks Inc. Stock Climbed 18.6% in November
Shares of Barracuda Networks Inc. (NYSE: CUDA) rose 18.6% in November, according to data from S&P Global Market Intelligence, after the cloud security and data protection solutions specialist agreed to be acquired.
After largely trading flat for most of last month, just over a week ago Barracuda Networks announced it had entered an agreement to be acquired by private equity investment firm Thoma Bravo for $27.55 per share. That price propelled the stock to above its 52-week high, and represented a 22.5% premium to its 10-day average closing price at the time.
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Source: Fool.com