Why Perella Weinberg Partners Stock Skyrocketed Today
It's apparently deep in discussions to combine with a larger peer.
Overview
One of the best-performing financial sector stocks on Tuesday was a name unknown to many investors. Boutique advisory company Perella Weinberg Partners (NASDAQ: PWP) is apparently the subject of a merger with or acquisition by a larger peer, and investors reacted by snapping up its shares. At market close, they were up by nearly 12%.
That morning, The Wall Street Journal published a story reporting that Perella Weinberg has been in discussions with Piper Sandler (NYSE: PIPR) about combining their businesses.
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Details
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.