Buyout rumors are only that rumors. This is the news that desperate investors hang on to when the ship is sinking. Losing subscribers is the final nail on the coffin. Good luck to you but I would never go long on some rumor.
Buffalo Wild Wings (NASDAQ: BWLD) fell over 6 percent at Wednesday's open after an old story about Norovirus was recirculated.
The connection of Buffalo Wild Wings to Norovirus was not true, according to the Johnson Country Health Department website which said the restaurant in question was a New Theater Restaurant. The report was originally made on January 28.
Shares fell about $12 to $138 before rebounding. The stock traded recently at $142.35, down 5 percent on the day.
However, the broad market also sold off sharply at market open, which could also be a reason for Buffalo Wild Wings' sharp drop.