EIGI - Here's Why Endurance International Stock Went Up 18% on Monday
Web-hosting company Endurance International Group (NASDAQ: EIGI) is thinking about selling itself to another player, and that sent shares higher on Monday. The stock has lost over 50% of its value over the past five years, showing its long-term struggles. But investors celebrated the rumored sale by sending the stock 18% higher for the session.
According to a Bloomberg report citing anonymous insiders, Endurance International is open to the idea of being acquired, two years after considering it the first time. The company owns well-known brands like Bluehost and HostGator, platforms enabling its users to develop a web presence. However, it hasn't been able to monetize its properties of late.
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Here's Why Endurance International Stock Went Up 18% on Monday