I'm curious. The news articles say Ackman will sell all his shares at $12.90.
Actually the "news" said investors paid "Citi" 12.90 for Ackman's shares - - - - I don't know how much "Citi" paid "Ackman" for his shares - - - - - - - probably was less than 12.90 - - - - - and whatever that amount was is probably where we're headed, at least in the short term - - - -
citibank bought them all. they were likely shorting the stock while in negotiations for his shares to get them for the lowest price possible. now that they own them they'll be driving the price higher (just check out todays volume). i bet this stock will be at least $15 next week and possibly $20 by end of the year assuming we don't go to war.
Adsfjdsak..., thanks. I think I'm just naive about the way big money works, but I don't understand why Ackman/Pershing wouldn't have simply sold on the open market. Granted, it would take a LOT of trades to unload 39mm shares or whatever it was, but still. I wonder if can get Citi to buy my shares for $16?