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Technology Stocks : AUTOHOME, Inc
ATHM 23.48+1.2%Nov 21 3:59 PM EST
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To: howto who wrote (7272)4/3/1999 6:12:00 PM
From: Benkea  Read Replies (1) of 29970
 
Howard:

I don't know what is going on with the spread. It was 22% a week ago, closed to 12.5%, and is now back to 18%. Being one who is currently participating in this arb, I don't care for this much. However, I think much of it has to do with the difficulty for the big boys who usually do arbs (IE: 100k to 1 mil shares or more) are unable to short such a low float stock in their desired quantities. Further, the volatility in ATHM/XCIT make the simultaneous trade hard to execute when waiting to find the required shares to short without getting screwed on the huge intra-day swings. This all may or may not explain the huge spread for a deal expected to close in 2 to 4 weeks.
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