Good discussion everyone! And thanks to the two of you who spoke to Ben. Much appreciated.
I think the Macao news is playing to some extent on DNA -- amplified because DNA is pure Chinoise whereas Crown is diversified. But I also think Mr Market is exaggerating the effect of China -- i.e. the effect of curbing corruption and lower GDP on gaming revenue. ARMCH's theory, although speculative, may prove correct.
I also think -- as do many of you -- that DNA shares are a plaything of one or more investment firms. (Gee, why don't they pick on IBM shareholders instead?) they aren't necessarily using short selling -- not much lately even though high percentage of shorted stock sitting idly -- just using their own to trigger stop losses and scare buyers. Of course, this also could mostly be one or more instos selling down because DNA's sp has been in the doldrums too long.
I think DNA announced the acquisition even though tentative because the market has been crying for news (Ben has been asked a few times by HC posters). I took the announcement as a positive development, mostly trusting their judgment (they aren't exactly new to this business!). Ben's comments to MO on Wednesday are even more to cheer about (eventually).
Meanwhile, hold on for more roller coaster ride!
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