Yes, this was a terrible management decision and the SP has dropped below the SPP offer, which reflects poorly on the company and management.
For those who disagreed with me right after the announcement, sadly, my predictions have been proven right. I was critical of CTM when they announced their discounted CR but I was even more critical of BSX as only BSX made the dumb decision to offer a SPP which is clearly an overhang. Such a waste of time, get the extra during the CR and force others to buy on market.
We wait for news in October, lets hope this doesn't drop below $0.40 before then.
BSX Price at posting:
41.5¢ Sentiment: Buy Disclosure: Held
