I shorted shares today. I think we have considerable downside remaining.
To answer your question on who is buying? ~ Its Wall Street and fund manager who are buying into Walgreen maintaining 97 to 99% retention of current volume. I dont know how this is possible and first quarter picture as well as monthly sales figures will reflect the outlandish over optimistic view by WAG mgmt.
Wag faithful are still hoping for a deal. CMX is sharpening its dagger and I bet cant wait for the next negotiation with WAG.
I still cant believe the level of white paper WAG released and the super soft ball questions...
I just can't trade this right now. If they announce a deal and your short you are down 7% at least in the blink of an eye. If no deal, do we gap down on 1/3? and bleed down until q2 is announced? Once all these issues are resolved we can get a better idea where the true value is.