Mr. Pink,
This reminds me so much of DJT (Donald J. Trump Hotels). On Feb 6 of this year the stock was around 9. Then this startling press release:
BusinessWire, Friday, February 06, 1998 at 14:19
NEW YORK--(BUSINESS WIRE)--Feb. 6, 1998--Today, Nicholas L.
Ribis, president and chief executive officer of Trump Hotels &
Casino Resorts, Inc. (NYSE:DJT), confirmed that the company has
retained Donaldson, Lufkin Jenrette Securities Corp. and Bear,
Stearns & Co., Inc. as its investment bankers to explore strategic
alternatives on behalf of the company.
Trump Hotels & Casino Resorts, Inc. owns and operates Trump
Plaza Hotel Casino, Trump Taj Mahal Casino Resort and Trump Marina
Hotel Casino in Atlantic City, New Jersey, as well as Trump Indiana,
the riverboat casino in Gary, Indiana on Lake Michigan.
Mr. Trump went on to say that he would be entertaining all offers over 35 dollars per share. The stock went from 9 to 12 in two days. DJT closed today at 3. Why? The buyout never happened. Why not? Too much debt, too many legal problems. Sound familiar?
Cube
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