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Commerce Bancshares, Inc. Message Board

  • tradelittle tradelittle Oct 31, 2000 4:48 PM Flag

    Volumn!!!

    It would seem that today's action -- over a
    million shares --500 K picked up in large blocks-- is
    interesting to say the least!

    Could this be a large
    investor, wanting to pick up the 5% stock div. who was
    willing to spend 18 Million for a return of 900,000 in 60
    days plus another 75,000 in cash, equating to about a
    30% yearly return? Or, a possible suitor working up
    their base position?

    Obviously, it could be
    neither, a marketmaker scaring up shares to cover future
    shorts!

    Any thoughts from the crowd?

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    • Since the price spiked down rather than up on the
      first block, I'd assume it was a motivated seller
      rather than a motivated buyer -- probably an institution
      looking for a tax loss?

      Not many institutions
      owned that large a block of shares, so there is only a
      small circle of suspects...

      JMHO

      • 1 Reply to jcorb2d
      • JCORB,

        After seeing the 10Q that was
        posted today, it would seem that the large block-- which
        appeared to be an "away from the market" trade, may have
        been the bank itself repurchasing for the stock
        div/distribution.

        At any rate, the current "steady price" doesn't
        bother me a bit, all things considered.

        I've only
        been in this stock for a few months, can any old
        timers tell me if the price tanks post
        dividend?

        Thanks in advance.

 
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