JinA
My guess is that a lot of insto buying will wait until the deal is sealed because that's the way this end of the market operates ATM.
Players like me will now largely be content to fill up on $15K or so of heads orrered in the placement.
Thus there is a delay in the market revaluation process. (This market failure is likely to be exploited by many who will use the weekend to do some research . . . ).
cheers
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