Trevor,
RE: Why does everyone insist that the recent runup is entirely based on takeover rumors?
Well, I suppose that it is possible that hope of an upswing to earnings is driving some of FORE's gain. However, to the extent that that is happening, I really believe it is secondary to merger mania. Case in point, if FORE beats estimates by ___ (your favorite number here.) Say a nickel, but proclaims "we ain't for sale", what do you think FORE stock would do? $15 would be a whisper away, beating earnings or not.
Also, recall where FORE was before this merger mania struck. As I recall it had touched $12 and change before slowly oscillating between $13 and $14. Then up she went after the rumors swirled around and around. Coincidence? Maybe, but probably not says this FORE long.
Good luck,
-John |
