Are Traders Manipulating Akamai Illegally?
Akamai Technologies (NASDAQ:AKAM) has the dubious distinction of being a popular subject of takeover target rumors, according to Bloomberg. Electronic news agencies, newspapers, or brokerages have named the company as a likely target 21 times from 2005 to 2010.
The company — which provides computing resources for the delivery of content for Internet majors such as Apple (NASDAQ:AAPL) and Netflix (NASDAQ:NFLX) — was recently the subject of rumors again … this time Google (NASDAQ:GOOG) was named the alleged suitor.
However, two people familiar with the rumor say it’s completely baseless. However, the original report in Business Insider caused a 17% surege in AKAM (NASDAQ:AKAM) stock.
AKAM (NASDAQ:AKAM) is trading at $24.49, up 4.79%. Shares are down 46.83% in one year. The stock’s trading range for the year is between $18.25 and $54.65.