VMW rose more than 10% last week
VMware (VMW) stock rose more than 10.0% in the week ended January 26, 2018, to close at $150.00. However, the stock slumped 16.0% on January 29, 2018, to close at $125.05. VMware is now trading 46.0% over its 52-week low of $85.45 and 24.0% below its 52-week high of $165.00.
During the week ended January 19, 2018, VMware’s stock price rose on news that Dell might acquire the remaining stake in VMware. Dell became a majority shareholder (over 80.0%) in VMware after the former’s acquisition of EMC Corp. in 2016.
Dell is looking for new growth avenues with this acquisition and could consider an IPO (initial public offer) after going private in 2013.
VMware’s stock movement on January 29
VMware stock fell almost 25.0% on January 29, 2018, on reports that the firm could acquire Dell in a reverse merger.
VMware stock had an outstanding 2017, as its stock price rose almost 60.0% in the year. This rise in its stock price was driven by double-digit earnings and revenue growth as well as optimistic guidance for fiscal 2018.