(OTCMKTS:ADRNY) Ahold NV Goes Green on Massive Volume
Shares of (OTCMKTS:ADRNY) Ahold NV traded green with massive volume brought on by possible Kroger speculation ( Amazon just purchased Whole Foods). ADRNY shares have been on a downward ride for almost a month but today that changed. With over 7,000,000 shares trading, and a close of $18.37
As traders talk of possible take over by Kroger (NYSE:KR) things look promising considering the Amazon purchase of Whole Foods. A large acquisition from Kroger could make stealthy traders very happy. Of course this is all speculation, but speculation may not be the only driving force. With share price at a one year low the bottom of ADRNY was bound to be found, Is this it?
Could this be the bottom of ADRNY? Could we see a share price of $22 or $23 again?
Ahold Delhaize is one of the world’s largest food retail groups, a leader in supermarkets and e-commerce, and a company at the forefront of sustainable retailing. Our family of 21 great local brands serves more than 50 million shoppers each week in 11 countries. Each brand shares a passion for delivering great food, value and innovations, and for creating inclusive workplaces that provide rewarding professional opportunities. Our brands have also established meaningful, lasting commitments to strengthen local communities, source responsibly and help customers make healthier choices. Ahold Delhaize was formed in July 2016 from the merger of Ahold and Delhaize Group, retail innovators for almost 150 years. Our local brands employ more than 375,000 associates in 6,500 local grocery, small format and specialty stores.
Ahold owns US brands such as Food Lion, Stop & Shop New York, Hannaford, and Martin’s Food Markets among other large retail stores.
Todays volume was nothing short of crazy for ADRNY with a few trades exceding 1.9million shares. Another day like today could be what ADRNY needs to change from red to green. I will be watching this one close over the next few weeks.
We will continue to follow (OTCMKTS:ADRNY) Ahold NV with any updates.