Empresa Distribuidora Shares Popped: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Empresa Distribuidora (NYSE: EDN  ) shares jumped 16% today on news of the death of Argentina's former president.

So what: Yes, you read that right, the stock is up on news of former president Nestor Kirchner's death. The news pushed Argentinean stocks traded in the U.S. higher today.

Now what: This is a strange reason for pushing stocks higher, but the market can do strange things. Kirchner was never a favorite of investors, and his death brings speculation that Argentina may be more likely to join the International Monetary Fund. Considering there is no actual news about the IMF, this looks like a speculative move and I don't think it's worth buying on.

Interested in more info on Empresa Distribuidora? Add it to your watchlist by clicking here.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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Travis Hoium

Travis Hoium has been writing for since July 2010 and covers the solar industry, renewable energy, and gaming stocks among other things.

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