Yes it could go back to 8s on a market tank day, but your days of seeing sub 7 are dwindling based on fundamentals. Plenty of Funds will add to their holdings on any big price drop and MPEL's P/E is going to drop even further with every future earnings report.
And if MPEL mgmt were to announce MSC construction starting or the HK listing has no dilution, I expect the start of a major runup to the 15s.
No it doesn't help them. It hurts the EPS in the future having to issue more shares. Melco and Crown getting more shares is irrelevant as they have to own equal 33.X% of the stock at all times and they can't sell.
What happens if the stock price goes way above $8.61 before the listing by introductin on the Kong Stock Exchange? In other words, are we due for a $1 dollar or more pull back before December 7th?
I am curious to see the November numbers for Macau tomorrow(?); and I am very tempted to sell at $9.80 and buy back lower. After all, the stock has gone up 12% today. And this stock has a history of taking back more than what it gives... What do you guys think? :-)