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
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