Post by
undervalue on Oct 05, 2023 4:50pm
Risk arb loss
There are several million shares in the hands of risk arbs. This is just a guess. All the trading since feb was looking for the deal's $13.
The loss is going to be nasty as those positions unwind.
Pre bid price was around $7.
It is going to take a few trading days to find the floor.
I bailed in the spring. Lucky in hindsight.