Seen this with KAR pre P-1 spud, Wellington at the time kept the SP low and capatilized on the hype. KAR went as high as HI $3s, then started to drop as P-1 neared TD... Luckily announcement was a positive one that the SP rose significantly. Lets not for get though P-1 was targetting 7TCF where KAR owned 40%, KARs market cap was over $400million, and did not have squat before Poseidon... Go figure that one out...
With MEO I think the dynamics are a little different, too many smaller players ST trading consistantly, not enough LT steady Holders. Traders are continually playing into the depth, and trying to make a quick buck... Same stock gets recycled over and over by the same people. This cant be good for MEO. MEO needs some solid share holders the ones with steel undies.
MEO Price at posting:
55.0¢ Sentiment: None Disclosure: Held
