MyoKardia deal ignites shares

MyoKardia, a biopharmaceutical company, surged by 57.8 percent after Bristol Myers Squibb said it would buy the 8-year-old company for US$13.1 billion, or US$225 per share in cash.

On the losing side was DraftKings, which fell by 5.1 percent. It and some of its existing investors are selling 32 million shares of the company’s stock after it nearly sextupled in 2020.-AP