Ann: Alcoa 2012 2nd Quarter Results , page-9

lucky,

because they can.

bots can use a combination of bad news and sentiment to keep a stock range bound for a very long time.

It's a cruel world. Stocks with no margin lend against them tend to be left alone. Margin lend = liquidity = plenty of holders/traders and plenty of stops that can be hit to buy shares on the cheap.

Alcoa basically owns 60% of AWC's only asset. AWC owns the other 40%. So essentially if they want to grab all of AWAC all there's only 40% left to buy but they have to buy all of AWC since AWC could not say they were acting in the interest of shareholders (I don't think) in approving or recommending teh sale of its only asset. This is effectively a wind-down and cash payout.

I think things have been a bit confused in people assuming Alcoa has a major stake in AWC directly which it does not, unless via some of the nominee accounts on the substantial holding register.

AWC currently valued at about 1.8 billion. Alcoa have cash on hand of 1.7 billion. They could make an offer for the lot of AWC at say 1.50 (ie at that price its a steal). Tip in a Billion dollars, borrow a 2.6 billion, have 700 million left over in cash flow and the purchase services itself.

I think something is happening. There is a heck of a lot of volume day in and day out, one month straight.