And it was up to $295 yesterday… I used to hold the stock, and I sold it yesterday after hearing the news. But I don't understand why would it cost more than the acquisition price? Usually, stocks edge a little below the acquisition price so that they price in the probability that the deal won't go through and opportunity cost. But in the case of Encore Wire, it's above. I don't get it. Is it shorts covering? Is it pricing in the probability that someone else will suddenly acquire it for a higher price?
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