Is anyone else out there bothered by a stock being sold at 2-4.5 points below the previous day's close? Note the volume of the transactions.It's like somebody is invading the piggy bank just to get a couple of bucks for a new toy, regardless of the stock value. What gives?
Since I'm not the one selling at the lower price, I'm not worried in the least. Alleghany has a relatively small float, and price changes from day to day tend to be inexplicable. But I've been a Y stockholder for over 40 years, and I've been happy with the performance. Furthermore, my basis is too low for me to sell, whatever the day-to-day changes.
If you're a day trader, you should stay away from Y. Otherwise you'll deserve what you get.