Richard,
The level of shares traded the day that it was announced that brk would not be allowed into the index, and the relatively huge drop sustained that day and the Monday that the merger was finalized make it certain that the index funds were dumping shares while grn was in the index. The only question is whether they all got out before merger or have they continued to sell. I am now as sure as I can be that they did not get out, and they are still preventing the move up.
The stock activity and direction has surprised me several times now, so I don't want to come off as very dogmatic about what is happening. It is just my opinion. I had not even considered the possibility that you suggest, which is that the index funds could only hold until getting the brk shares and then are forced to sell. You thoughts went a step farther in complexity than mine. But I do think that the volume indicates, now that we see it after the fact, that there was heavy selling before and on 12/21, and now there continues to be institutional selling. The stock may suddenly explode when they are all out. It has tried to, but there has then been large sales to depress the price again.
I still don't have my shares, I had all 3 variables, grn, b and a, but it is because the broker screwed up and missed the follow up 12/23 announcement. Does everyone with grn have there b or a shares now? |
