HotDiamondFingers
Nov 10, 12:41 PM
a takeover premium is a bet, not a floor. When a stock trades on bid hopes, the price carries extra for a deal that may never happen. If the board says no, that extra leaves in one gap, even with no bad news in the business. That is the
$GFL move this morning, ~15% down with no earnings number. Different from a miss, where the business itself got repriced.
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