Why Avid Technology Stock Was Blasting Higher This Week
Avid Technology (NASDAQ: AVID), a storied maker of film-, video-, and audio-editing solutions, is apparently for sale, and investors have become excited about the prospect of a lucrative deal. Wednesday afternoon, Reuters reported that Avid is exploring a potential sale. Although the company is a storied name in its field, prior to the Reuters report its stock price had fallen by nearly 20% year to date.