Redfin Soars More Than 75% on Acquisition News -- Here's What Investors Need to Know

The stock market was having a generally negative day on Monday, with all the major market indices firmly in the red. But looking at Redfin's (NASDAQ: RDFN) stock price, you'd never know it. As of 10 a.m. ET, Redfin was up by a staggering 77% for the day.The spike isn't fueled by earnings results or anything like that. Instead, Redfin is being acquired by lending giant Rocket Companies (NYSE: RKT).Redfin is being acquired in an all-stock transaction. It values Redfin at $12.50 per share, but it's important to know that it's based on Rocket's share price at the time of the deal's announcement.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool