Welcome back to what will be a frenzied week on Wall Street.
Merger Monday Is Alive
Despite markets hovering near record highs, corporate chieftains are finding value (at least in their eyes).
Barrack Gold (ATX) and Rangold Resources (GOLD) said Monday they will combine in a $18.3 billion transaction. The deal, which comes following a year under-performance for both natural resource stocks, will form the largest gold miner on the planet.
Meanwhile, Sirius (SIRI) said today it will buy streaming music service Pandora (P) . The deal values Pandora -- who has seen its stock surge 75% this year -- at $3.5 billion, a 13.8% premium to Pandora's 30-day trading average.
After a wild week, Tilray's (TLRY) investors were right to expect more volatility. Shares of the weed grower tanked 13% in pre-market trading Monday amid weekend stories that questioned the company's valuation and business model. Shares dropped $23.50, or 19.11%, in regular trade to close at $99.50 Monday, and were back up 7.40% after hours.
Amazon and Facebook are holdings in Jim Cramer's Action Alerts PLUS member club.
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