An interesting case is happening today, MyoKardia’s stock (MYOK) suddenly jumps within 30 minutes after announcing a full acquisition of the company by Bristol-Myers that is ready to pay $13.1 billion in cash to diversify its revenue sources by offering heart drugs. Therefore MYOK pops 58% in premarket showing it is selling over a million shares.
Looking at the one-year price chart; the stock slowly plunged until March 16 and quickly rose to $53.42. Then a swift surge happened on May 11 when $96.90 has appeared on the screen. Hence, the only uptrend stimulates the stock to trade above $130.
Not many investors are buying the MYOK shares due to surging artificial demand from Bristol-Myers. Until the market closes the stock will likely sell around 5 million shares but MYOK itself could disappear after the deal is done.