EVERYONE has just offloaded 20% of their stake at $14. They now raise a piddly $250m at 5.75 and you think people will now sell to raise cash?
Every broker/insto/hedgie has been playing this arb. If they were going to sell more than the 20% they would have been the ones pushing it from $12 to $7 over the last few weeks, hence the bargain price insto's will get their shares back at.
This was clearly foreshadowed if you missed it you weren't paying attention. Even on a technical basis it gave a buy last week.
There may be some downside from here but to what $6? More likely for longer term holders is a return to $10 over time.
And in the meantime you've swapped $14 shares for $5.75 shares.
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Last
$3.97 |
Change
0.020(0.51%) |
Mkt cap ! $1.517B |
Open | High | Low | Value | Volume |
$3.97 | $3.98 | $3.92 | $5.050M | 1.275M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 122726 | $3.97 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.99 | 23187 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 122726 | 3.970 |
2 | 46552 | 3.960 |
2 | 25766 | 3.950 |
7 | 26282 | 3.940 |
5 | 15201 | 3.930 |
Price($) | Vol. | No. |
---|---|---|
3.990 | 23187 | 7 |
4.000 | 12340 | 2 |
4.010 | 1568 | 2 |
4.020 | 1388 | 1 |
4.030 | 6438 | 2 |
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