Its puzzling isn't it? I have done a fair bit of research on this stock. Even the execs at ANM have commented in interviews that they cannot understand the difference in prices. Their only explanation was a difference in liquidity.
My only thoughts are that there may be alot of uniformed investors out there. Its too easy to invest (or should I use the word gamble) without any research or professional advice, so perhaps these people see the stock trading low, think its good value, and do not any more research. I know its not a very good explanation, but its the only logical one I can come up with.
A quick thought...if you could email the mum and dad ANM holders and tell them to switch to ANMNA, you would quickly create a demand for ANMNA and short ANM. I'm not sure how ethical or practical it is though.
The market is an interesting beast though. Notice that this morning ANMNA fell as it is trading ex-div, whereas ANM remained steady.
If we could explain these things then I am sure that we would all be alot wealthier than we are now.
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