Why Evolent Health Blasted 7% Higher on Thursday

For the second straight day, Evolent Health (NYSE: EVH) stock saw a notable uptick Thursday. The shares rose to close more than 7% higher. This followed a 9% advance the previous day. It's obvious that investors are increasingly convinced hot rumors of a buyout will soon be realized.

Wednesday morning, Bloomberg published a story stating that big pharmacy-chain operator Walgreens Boots Alliance (NASDAQ: WBA) is in talks with Evolent to buy its healthcare industry peer. Citing "people familiar with the matter," Bloomberg pointed out that Evolent is experiencing pressure from activist investor Engaged Capital to consider a sale, among other "value creation" measures.

Image source: Getty Images.

Continue reading

Source Fool.com