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COMCAST IN TALKS TO ACQUIRE STREAMING SERVICE XUMO, STOCK RISES - Capital Street FX

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    • COMCAST IN TALKS TO ACQUIRE STREAMING SERVICE XUMO, STOCK RISES
27-Dec
20:10 IST

Comcast’s stock is currently trading at 45.17-higher by 0.44% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 0.38%. The stock has continued gaining after the opening bell.

According to market sources, the cable and media conglomerate is in talks to buy video-streaming company Xumo. Sources also disclosed that talks between companies are exclusive, and it is possible that negotiations could fall apart at any time. The possible acquire comes ahead of Comcast’s planned launch of its Peacock streaming service.

Peacock is scheduled to be launched on April 2020. Xumo could help with the technology to get Peacock streaming services out into the world. The acquisition of Xumo could also bring business support for the NBCUniversal parent. Shares of Comcast have rallied more than 31% so far this year.

On the technical front, the RSI is currently at 61.80% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the upper band of the Bollinger Bands and is heading upwards.

 

TRADE SUGGESTION- LIMIT BUY AT 45.10 TAKE PROFIT AT 45.40 STOP LOSS AT 45.00

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