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Eagle Rock Energy Partners, L.P. Message Board

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  • youcanpickum youcanpickum Dec 10, 2009 9:43 AM Flag

    reentery point

    Look at the price action on ING. They just announced a rights offering at 7 when the stock was trading for 13. The stock was shorted down to just over 8 and is just now recovering this morning, probably due to the offering expiring tomorrow. EROC will drop as well if a rights offering is made well below 4.5. So you have to figure what your average price will be to see if you are better off holding and exercising rights or selling and buying back around 3.75 which is my guess as to where it will drop to when the deal is announced and the stock trades X rights. I don't own any now, but plan to buy back at that level. I sold 60,000 betwwen 4.6 and 5 right after the first announcement.

4.76Jul 11 4:00 PMEDT

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