The hype is now built into the price.
It is now EXPECTED that the offer for CLWR will be made. However, Sprint will not pay a higher premium for it after its runup on the leaked news. CLWR is in a ton of debt, they can't exactly play hard to get with a decent buyout offer. Sprint knows this and will offer to buy out at a discount, certainly not a premium.
Either 1 of 2 things will happen:
1. Buyout offer will occur as expected, but at a lower price than the current PPS (my guess is ~$1.50)
2. The buyout will not even happen.
Regardless of which happens, the stock will go lower on the news.
Mark this post, and please come back here and post when it is back down to $1.50 range.
And sadly no, I have no position in CLWR. I'm just observing and making assumptions based off of the tons of times I have seen speculation like this happen.
Good luck to all.
You are more than likely right I see 1.30 by the end of the week, more converting of shares to A shares
Some fund knew the where going to do it & started dumping in pre-market investing is set up for the retail to lose.
Did not buy or sell this pop or dump.
I see I've got a lot of people flustered.
For the most part, this is people who are Long CLWR and do not want to see the truth.
Or people who have simply never observed price movements in stocks based on speculation and expected news.
Enjoy the weekend!