One of Bitcoin’s First Millionaires Issues Controversial Warning

On Monday, September 21, at 4 p.m. ET, Matt McCall will sit down with this bitcoin tycoon to warn the public about an urgent event about to rock the crypto world.

Mon, September 21 at 4:00PM ET
 
 
 
 

Dell Technologies News: DELL Stock Surges 8% on VMWare Spinoff Talk

DELL could also acquire shares of VMW that it doesn't own

Dell Technologies (NYSE:DELL) news for Wednesday includes talk that the company is considering spinning off VMWare (NYSE:VMW).

Dell Technologies News: DELL Stock Surges 8% on VMWare Spinoff Talk
Source: Jonathan Weiss / Shutterstock.com

While Dell Technologies doesn’t own VMWare completely, it is the majority shareholder of the company with an 81% stake in it. It if wanted to, the tech company could choose to sell off its stake in the software company, which is what the rumors imply might happen.

It’s also possible that Dell Technologies could go the completely opposite route. Instead of selling its stake in VMWare, the company is reportedly considering buying up the remaining shares of VMW stock.

Investors will have to take this Dell Technologies news with a grain of salt. The information is only rumored at this point and both Dell Technologies and VMWare are refusing to comment on the matter. However, it won’t hurt to keep an eye on DELL and VMWare stocks for the near future, reports CNBC.

While the year has been rough on the stock market thanks to the novel coronavirus and an oil war, both Dell Technologies and VMWare have performed well. Both did see a drop in mid-March but have been steadily recovering since then. As it is now, DELL stock is only down 6.3% since the start of the year and VMW stock is down 4.1% year-to-date.

DELL stock was up 7.9% and VMW stock was up 2.6% as of Wednesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/06/dell-technologies-vmware-news-boosts-stock-up/.

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