About 4 years ago made a killing with ACI.
Private debt offering looks like someone is interested in owning more shares soon.
Started a new position a few days ago and plan on being overweighed this week.
Now over-weighted in ACI and may add more from WLT’s short position.
WLT went Ex-div 11/7 no reason to hold it.
IMO some year-end tax swap will go into ACI. As mentioned earlier started to buy ACI 11/9 as it started the downtrend … short players started moving it down.
Shorted WLT 11/8 at $34.50 after Ex-date, and came into ACI now over-weighted. ACI’s Ex- is 11/28, by then, IMO, expect a sizable uptrend here due to:
a. Ex-date short covering (shorts don’t want to pay the extra dividend) by 11/28
b. Tear-end tax swap from WLT into ACI
c. Now has a 1.8% yield with …. A $14.92 Book Value and
d.Potential $26.12 Enterprise Value … or substantially higher if ACI goes private, gets bought out or other.
Now over-weighted in ACI and may add more as I close outmy WLT short position.
Long and Strong!