Trading today I've been trying to listen to the gossip and gather as much information as possible, and I believe todays sell out is mainly due to people imagining that they will be able to buy back their stock next week, but at way lower prices. The assumption is that oce the spin out is done, the GBR stock will ose in value. Heck, I was thinking along those lines not long ago. But nah.
To me this seems like a somewhat dangerous game play. Not holding stock over the spinout phase just because the calculation is to buy back cheaper afterwards is not woth it IMHO. The spinout stock in itself has potential to be of immense value over time, and GBR's costs for the spin out shares is not high.
Correct me if I am wrong, but I believe the amount of money placed in the spionout company is about $20M? That is 5% of GBR's current value on the stock market. I strongly doubt that the GBR stock will drop more than 5%, and definitely not for long.
But I can be wrong, and I must try to find the correct numbers regarding the amount of money that will go into the spinout company. If anybody feels like chiming in, correcting me or just say that I am wrong - feel free to do so. This is an interesting topic!