I was not wrong. The June calls trading under $2 on a Friday before were a huge red flag.
Everyone knew the deal will be at $54, but no one assumed it will take 9 months to close the deal.
The option traders were smart and sold the June 50 calls for $2, everyone else assumed the stock would trade around $54 on Monday...
You are welcome,
June 50 Calls traders were correct to sell at $2 on Friday.....
It will take 9 months to get to $54, not many are willing to wait that long for the last $2.
I have a feeling, based on how the June 50 Calls traded on Friday, The deal will be closer to $50 than $54.
Let's see what happens on Monday.
Good luck to all,
All I can say is that Vector made a killing. They almost doubled their investment in 3 months.
I guess the institutions that sold to Vector are #$%$ off.
To all the longs that held Click until today congrats !!
In regard to Click's management, mainly the CEO, he did a terrible job for shareholders.
Click shares were trading at $13 few years ago when Soros bought his position.
If TOA was sold for $400M with $40M in annual revenues one must wonder why Click did not fetch a higher valuation.
The answer is the CEO and the rest of the management team. When they miss revenues again and again, the only way out was to sell the company, even on the cheap....
Enjoy your returns from this sale and it happened when everything else is selling off thus you can buy other companies on the cheap.