RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Initial takes on updated PEAWhy are you so obssessed with how day traders play WRN? Look, I understand you are one of them, but MOST of us here are investors. We are concerned with one thing only: buy and hold until the acquisition is finalized.
What does the price of rice in China have to do with what the current daily trading price of WRN is? Answer: nothing. Furthermore, at the buyout, do you think RIO is going to say, "Remember when the PEA was released and the market was trading at $2 a share? We would like to offer you that since, you know the market is smarter than anyone here in the room."
This is classical can't see the forest for the trees. You are laser focused on how day traders look at WRN. It is totally irrelevant. Do you think they are analyzing this the way the investors or the BoD or RIO will be? No, they are not. So, that explains your disconnect between the price of the shares and the ultimate price they will be worth at buyout.
I think that is what is causing your cognitive dissonance - the fact that you are not approaching the value of WRN the way an investor does. If you look at a lump of gold and only want to use it for a paperweight, of course you're not going to assign it any value. An investor isn't planning on using a lump of gold as a paperweight, we look at it as an investor.
So, we are fundamentally different, you are trying to force my square peg into a round hole and can't fathom why it won't fit. If am a short term day trader, I am insane if I am holding out for $20, the same way that you would be insane as an investor only expecting $3 in a year or so from a buyout. I hope this helps shed light on the current debate.