Open at 101 and dip to 94 rather quickly then close around 92 which is still more than $17 KO will be paying in March. They sold 10% of the company for at a 6% discount to the stock price at the time of the announcement. It deserves little premium.
GMCR has a lot of institutional ownership. The huge run up will require some institutions to sell because of their internal rules regarding portfolio re-balancing. They will have to sell. It is easy to understand GMCR occupies too much of your value if you have $20s in it. Most of those shares will be taken up by shorts who are already covering. Shorts will really be squeezed if there were to be an earning surprise next week. That would put the floor on the stock in triple digits.
I admit I was watching it all day in hopes that it would climb there. I do wish I had sold my majority position at open. I also considered going long on PLUS, which was up 11.8% around lunch. Two regrets for today...
nope I AM OUT FOR NOW. Something in my heart remembers my daddys ole saying SELL on good news and BUY on bad. The good news is coke is taking a part of the green mountain family but as of today .... there is no machine out yet to buy and make those sizzliy coke drinks so once I see them in the stores then I will buy the machine, buy the products and watch for earning on the results of coffee pot and k cup sales. You do your thing. I am taking the profit and moving into tsla and gm