Why Momentive Global Stock Soared Today
As of 3 p.m. ET, Momentive stock was up 19%. According to a Bloomberg article citing "people familiar with the matter," somebody may be interested in buying out Momentive. Down more than 70% from its all-time high and trading at a price-to-sales ratio of less than two, the potential buyer likely believes Momentive stock is undervalued at these prices.