In the 1989 to 200 period From Announcement Date Excess returns - 5.446% mean gain; 94% of the time From Announcement to Effective Date - 8.899% mean gain; 92.7% of the time At +20 days - 6.396% mean gain; 68.8% of the time At +60 days - 6.189% mean gain; 61.5% of the time
The % are calculated on the day before announcements.
For NLFX (if it follows the pattern - on average):
- Announcement - 201.45 (this was achieved in the after-hours on 12/9 and before trading on 12/10)
- Announcement to Effective - 208.25 (yet to be seen)
- Effective + 20 days - 203.26 (yet to be seen)
- Effective + 60 days - 202.87 (yet to be seen)
I think all the longs would be happy to see this performance!