Higher-than-average trading volume hints that something is going on with a company or stock. A lot more shares are trading than usual, and that could be a sign that a big move is coming. It also could signal that something has fundamentally changed with the outlook for a stock. Stocks can trade with unusual volume for a variety of reasons, and most are worth noting. These are today’s most active stocks and our best guess why volume is picking up. If you own any of these stocks, take note
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Tiffany and Co. (NYSE: TIF)
Tiffany shareholders are rejoicing after French luxury retailer Louis Vuitton (LVMH) offered to save the distressed company from bankruptcy with a $14.5 billion rescue bid. Tiffany received an unsolicited, $120-per-share buyout offer from LV, and the news set off a 31% rally in share prices. No word so far on whether Tiffany will accept, its board is still weighing the offer. However, it seems likely that the near-bankrupt retailer would be eager to make a deal; especially one paid a 33% premium over share prices. However, the stocks recent gains ate up the premium and, now, share prices are slightly above Louis Vuitton’s proposed buyout rate. At this point, both companies are trying to temper shareholder expectations. For its part, LV said there is no guarantee that these preliminary talks will result in an agreement.
Fitbit Inc. (NASDAQ: FIT)
Shares of Fitbit rallied over 30% yesterday after a report revealed that Alphabet Inc. (GOOGL) is eyeing the company as a potential buyout target. On Monday, Reuters reported that Google’s parent company was considering the acquisition to help ease its entry into the wearable tech market. Currently, Google does not sell smartwatches or any other wearable tech worth noting but it seems like a natural fit. Google recently release Wear OS, a new Android operating system designed especially for wearable devices like smartwatches. However, the company doesn’t sell any hardware that supports Wear OS.
Enter Fitbit. Prior to yesterday’s rally, the fitness-tracker pioneer was down about 20% for the year. Fitbit’s products have performed poorly through recent years, largely due to increased competition in the smartwatch space. The Apple Watch is eating Fitbit’s lunch, and investors shied away from the stock once they saw Apple (AAPL) taking the lead.
Liberty Property Trust (NYSE: LPT)
Supply-chain logistics firm Prologis (PLD) is set to acquire Liberty Property Trust in an all-stock transaction. Warehouse property is one of the hottest sectors in the real estate industry, and Prologis belive’s Liberty’s 107-million-square-foot logistics portfolio will be an excellent addition to the firm’s assets. Under the terms of the deal, Prologis would shed about $3.5 billion in assets, mostly ‘non-strategic logistics properties’ and office space.
If the deal survives, Liberty shareholders will receive 0.675 shares of Prologis for each of their LPT shares. Acquiring Liberty will bolster Prologis’s presence in several highly-coveted markets, including Pennsylvania’s Lehigh Valley, New Jersey, and Chicago. Prologis CEO Hamid Moghadam described the transaction. “Liberty’s logistics assets are highly complementary to our U.S. portfolio and this acquisition increases our holdings and growth potential in several key markets,” Moghadam said, “The strategic fit between the portfolios allows us to capture immediate cost and long-term revenue synergies.”
Immediately after the sale hit the news, several law firms announced they were investigating the proposed acquisition on behalf of Liberty Property Trust shareholders.
Most Active Stocks to Trade
These stocks are only a few of the most active stocks on the market today. Look for stocks with high relative volume to find the most active stocks to trade for yourself. Scanning for high volume is a great way to identify stocks that could be primed for a big move. As we can see above, it’s also a great way to find the biggest news stories affecting stocks. Buyouts almost always generate above-average trading activities, so it’s no surprise that these buyout stocks made the list today.
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