RE: Big VolumeInteresting market action in MMM today as there almost seemed to be a bit of a disconnect for most of the trading day, given it was ex-div for the spin-off base metal company shares?
I bought my MMM shares yesterday (Nov 12th), to participate in the BM spin-off share offering, and was surprised to sell for a few pennies more today, so the BM shares are a "freebie".
It seemed to be late in the day before people figured out it was actually trading ex-div, less the BM shares. Minco Silver was up, so this may have impacted the earlier market action (MMM holds 45% of MSV).
If anyone missed the BM shares, they can still participate in the offering on the AMEX under symbol MGH until Nov 23rd. It will be interesting to see where MGH.WI (the ex-div US version)trades on the AMEX, as the difference will be the street's perceived value of the BM shares.
Victor