It will gap up to 23. Better not to chase it. It always goes down ex-dividend.
I am wondering if they may have wanted to get the bad news (dividend cut) out fast, so it doesn't become an overhang later, when they probably announce a better than expected earnings report. Just a plausible hypothesis I think. GLTA.
Some of us who got impatient with TEVA in the upper 50's and sold the stock or got too cocksure and started trading it with the hope of buying back have to feel humbled with the way TEVA has surged ahead to almost mid-60's. An invaluable, but costly, lesson indeed in investing!
If you have some dry powder, I would add when it dips in the days post ex-div. The stock is certainly backed by strong buy ratings and mid-40 price targets. Should bear fruit in the months to come.
TORONTO, ONTARIO--(Marketwired - Jan. 20, 2015) - YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY) ("Yamana" or "the Company") will release its fourth quarter and full year 2014 results after market close on February 11, 2015 followed by a conference call and webcast on February 12, 2015 at 8:30 a.m. ET.