Only a temp spike as the specialist hands off the remaining AllliedBernstein and Barclays shares(over 50 million have been dumped so far) to unsuspecting newbie herd traders. It took CFC 3 weeks to spend 13.5 billion in cash jus to stay afloat. No details about this "mystery" 12b in financing has been disclosed to the public. Why? Because it is most likely very toxic(BOA's 2b financing will effectively dilute the float by 16%!) and will either lead to massive dilution or is actually the DIP money for the bankruptcy assets. Not enough of a cash infusion can save CFC and when the horrible details of the 12b in financing comes out, the sell off will be much more dramatic than after the BOA financing. Herd Traders have been warned, the institutional shareholders are handing you off the bag before complete insolvency.
Thanks for the heads up. Sounds like a 100% risk free bet. I will short 50,000 @ 18.90. I love free money.