NEW YORK (TheStreet) -- Now that the Comcast (CMCSA), Time Warner Cable (TWC) deal is officially announced, let me bring to light something a little fishy about stock movement prior to the announcement.
Yesterday was a largely quiet day for equity markets, with the Dow falling 30 points, the Nasdaq gaining 10, and the S&P 500 falling 0.49 points. Not exactly gangbusters stuff.
However, at around 3:55 p.m. EST, the share price of Time Warner Cable started to move sharply higher, gaining about 50 cents in the last few minutes of trading. Normally, no one would think twice about that kind of price action, except if something major was going to happen.
Like a merger.
Hope it wasn't an insider that did this. Because it does seem a little fishy and odd that in a day where equities were pretty much flat, shares of Time Warner jumped in the last 5 minutes.
Just something to think about.