Audible Finishes At Highest Level Since Early December On Merger News

Posted on Thursday, January 31, 2008 4:27 PM
(RTTNews) - Audible (ADBL) gapped open higher amid heavy volume but moved flat throughout Thursday's trading. This came as Amazon.com (AMZN) announced an agreement to acquire the company through a cash tender offer of $11.50 per share. The stock smashed through resistance and surpassed both its 50-day and 200-day moving average. Shares closed up $2.09 at $11.42, their highest level since early December. For comments and feedback: contact editorial@rttnews.com
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