Akamai (AKAM) Rips Higher on Takeover Rumors, Traders Skeptical

Shares of Akamai (Nasdaq: AKAM) are ramping after-hours Wednesday on rumors reported in Business Insider that Google (Nasdaq: GOOG) is about to make a large acquisition in the ad tech sector and all signs point to Akamai.

According to Business Insider:
"We're not sure, but multiple ad tech industry sources think Google is about to buy Akamai.

We've been chasing a rumor that Google is about to make a big ad tech acquisition. The one name that kept coming back at us was Akamai.

Akamai is up 10.7 percent to $25.89 in after-hours trading Wednesday. However, some traders are already taking the rumors with a grain of salt.

One trader tweets:
@TMTanalyst "I would fade a BI rumor"

another says:

@TechStockRadar "Akamai +13% after hours on Google buyout chatter. But source is BI"

Link to Business Insider story.

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