Nutanix stock rockets toward a 5-month high after WSJ report of buyout interest

Shares of Nutanix Inc.
NTNX,
+0.76%

soared 20.2% toward a five-month high in premarket trading Friday, after The Wall Street Journal reported that the cloud services company has received buyout interest and is exploring a sale. The WSJ report, which cited people familiar with the matter, said Nutanix is expected to target private-equity and industry players for a sale. It is still very uncertain if a deal can be made, the WSJ report said, as a buyer would likely have to pay a large premium to Nutanix’s stock closing price of $21.15 on Thursday, which implied a market capitalization of $4.80 billion. The stock, which is on track to open at the highest price seen during regular-session hours since May 5, has run up 48.7% over the past three months through Thursday, while the S&P 500
SPX,
+2.60%

has slipped 3.2%.

Source: https://www.marketwatch.com/story/nutanix-stock-rockets-toward-a-5-month-high-after-wsj-report-of-buyout-interest-2022-10-14?siteid=yhoof2&yptr=yahoo