From the MarcusToday report today.....
"Greencross (GXL) - Yesterday the market went into free fall following the shock news that the incumbent CEO was resigning. There are computer trading programs that read these headlines and just hit the stock hard for whatever reason. This was nothing sinister, he is retiring and feels he has done his job. The stock will recover and should be in safe hands given that the present CFO is taking over."
Also from my broker in response to my email which asked .."any idea why GXL would plummet like this?"
his reply .....
"Suspect related to announcement that CEO has resigned. He said he wanted to step down. Seems like gross over-reaction to me."
In the immortal words allegedly spoken by Freud..... Sometimes a cigar is just a cigar.
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