December 3, 2018

Tesaro Gets Bought

The equities markets had a slightly bullish inclination today. The healthcare Tesaro, Inc. (TSRO) was up over +58% today after news hit that the company was being bought out by GlaxoSmithKline (GSK). The buyout price is $75 per share in cash, which caused GSK stock to drop over -8%. Previously in mid-November, TSRO was up strongly due to reports that the company was exploring a potential sale. However, it was not until today that this was confirmed. Here’s a recap.

about the author:

Mike Patton

Mike Patton took the leap into the markets beginning as a commodities broker in 2005, where he was responsible for identifying trading opportunities and executing trades on behalf of clients. After years as a broker he made the jump to education by joining the team at Trading Advantage, now Prosper Trading Academy.

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