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Tag: Dell Technologies Inc.

DELL stock is gaining today more than 8%

Dell Technologies Inc. (DELL) stock news

At 1:23 PM ET time today DELL stock is up more than 8%, with a stock price of 53.27+4.26 (+8.69%). This stock price move is news based for DELL stock.

“Dell Technologies shares jumped in trading Wednesday after The Wall Street Journal reported that the company was considering a spinoff of its valuable stake in VMware.

If Dell goes ahead with a move, its stock (ticker: DELL) could have additional upside. In late morning trading, the shares were up 7%, at $52.50. Shares of VMware (VMW) are up nearly 3%, to $153.80.

Dell’s 81% stake in VMware—about 338 million shares—is worth about $54 billion, or about $71 for every Dell share, based on a Dell’s fully diluted share count of 755 million shares.

“We do think there is a tremendous amount of value within core DELL (ex-VMW) that isn’t factored into the current stock price appropriately,” Evercore ISI analyst Amit Daryanani wrote following the report. He has an Outperform rating and an $80 sum-of-the-parts.”

Stock market source:

DELL stock chart

DELL stock chart
DELL stock chart

DELL stock chart as of June 24, 2020, stock market open.