RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:34.9 shares bought back at $4.30..So, just doing a very quick calculation again...
If Mittleman was evaluating the shares at 7.5$ PRE-SCIB... Then :
35M share bought at 4.3$ would equal to a gain of 35M x (7.5-4.3) = 112M$
So with now 117 share outstanding, the new value per share would be about 1$ higher or 8.45$ to be more precise...
Yes, the drop could be seen as a critique of management... But really, there is just so many elements at play here:
-1+ month before AGM
- CS having to unload so much
- Uncertainty with the business post Areo-Plan
-Special situation investors just playing the SCIB
Who knows what might be pushing it...
One thing is for sure, the shares seemed to have bounced nicely from 3.75$ and I believe there will now be good support at 3.8$.
It'll be interesting to see what the next few days do to this stock...
3.75/8.45 = 44% of the value... It would only be natural for the SP to reverse to a more normal value attribution... Would be surprising to get 100% anytime soon, but possibly 60%?