Can someone please send me an idea better than this one. I can’t find one. Thanks
My idea. Autohome which is Chinas biggest online car sales company in Nov made an indicative non binding bid to acquir ICQ at 50c. The share price gapped up to 44c before drifting all the way back to 29c. ICQ last week said that the potential bidder is still doing due diligence. Autohome is looking to expand offshore as per their capital raise announcement a few moths ago where they raised $900m. They said 30% of the funds will be used for overseas expansion. Therefore $330m is available to acquire some international car sales business . At 50c it would require $220m . I reckon downside is to 25c if no bid and upside to 50c if bid happens. that’s a bloody good risk/ reward for me. Why am I not buying more? Lend me some money and I will. I am full ,,,totally. Good luck.
ICQ Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
