Shares of mega-conglomerate Textron spiked to a new 52-week highs this morning before reversing after unconfirmed chatter Bill Ackman has a stake in the company.
$TXT is one of those corporations you know is inherently evil because they do everything from manufacturing ‘finger of death’ drones to plastics to fiber optics and beyond.
With the majority of their endeavors being of the war variety, shares have performed well over the last few months.
It doesn’t seem like a Bill Ackman type of play, and many traders are dismissing the rumor, but perhaps he took a stake in the aerospace/war conglomerate to better align his funds with the incoming administration.
Conclusion: Unproven, but possible.
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