Post by
BlueJay2020 on Jan 25, 2021 4:33pm
Interesting SP movement today
Jumped up to 3.78 at one point and held there for a little while...and volumes up a bit. It's a very curious situation - given the nature of the stock, there are unlikely to be competing offers, so we are now waiting for the bidder to effectively outbid themselves! And the longer they wait, the higher the new price will have to be. Why not offer $5 now and be done with it? I would like more, and I think it's worth more, but I'd certainly look at something in that ballpark, with a 66% gain in 2 months.
Comment by
flamingogold on Jan 25, 2021 5:21pm
I noticed the uptick as well. Is it possible that some sellers are placing bids higher than the $3.55 offer in an attempt to sell to uninformed investors? Otherwise, it doesn't make sense for anyone to purchase higher when the buyout is lower. Unless... there is something else going on behind closed doors.
Comment by
flamingogold on Jan 25, 2021 5:24pm
Or, is it just some investors willing to take a gamble on a higher buyout offer for a small risk premium over the $3.55 level.
Comment by
jcw604 on Jan 25, 2021 5:51pm
No one will authorize the buyout if the market price is higher than the offer. They must raise the bid. Possibly to at 6 dollars.