That is the reason stock is down. Huge premiums. Option specialists could not let go I guess.
Companies like this should not be allowed to trade in US. If they trade in US, they need to be complaint with all the laws here including no stiching or whatever. Average investors will not have any clue to this kind of nonsense.
FB has 10,000.
May be there are too many people with lot of money who need their pockets emptied.
Even if it is a real company, it will be sent to the woodshed. Happened to INTC, MSFT, ORCL, etc., in 2000
When small traders, investors are sleeping, the brokerages (and some big trading houses) who have offices everywhere in the world at different time zones run the futures market up and down and mark the equities (pin it to S&P mostly) at the opening (and all day most of the time) to suit their profit potential.
No. That was not an issue. It is simple stock manipulation which is happening all around the market for msny stocks and commodities.
Market makers and short sellers covering the short today since they did not expect the anouncement during the week end. I think it should move up tomorrow onwards.
They will learn on Monday morning when it opens at $230 and closes around $240. Greece has no effect on takeovers.
Unless somebody makes a mistake and takes over this company, it probably will be the next myspace, Orkut etc.
The stock should trade much lower.
They could drive it down to $2 (Sad!). I do not think it is going back to its IPO price anytime soon.
The venture capital guys, the insiders(CEO etc.) have too many shares and are constantly selling huge amounts.Small investors were sucked in.