ConAgra Foods - Selling Boost
ConAgra Foods (CAG) received a boost from the market on Thursday as Ospraie agreed to a $2.1 billion purchase of the company's commodity trading and distribution business. The news brought the attention of over 8 standard deviations of normal trading volume as the market gained an 'extra big' 7.1% to close at $23.45. Historically the stock has been quite bullish after such a move that continued to trade under the 200-day average.
ConAgra Foods (CAG) received a boost from the market on Thursday as Ospraie agreed to a $2.1 billion purchase of the company's commodity trading and distribution business. The news brought the attention of over 8 standard deviations of normal trading volume as the market gained an 'extra big' 7.1% to close at $23.45. Historically the stock has been quite bullish after such a move that continued to trade under the 200-day average.
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