Tomorrow there will be quite a bit of price target adjustments from analysts who tend to be smarter than the gamblers. We will see if that wakes people up
I made the mistake of using last weeks pattern(gap down and stock closes at lows after selling off the whole day) to predict today's action. Today you had the dips being bought, I suspect the CEO is right that the ownership is now in different type of hands(In the public float) From my experience these gambler types tend to create big rallies that fizzle out and the stock drifts down gradually. Perhaps through the week with no buyout these gamblers will get tired and the stock will drift down to a level it can actually attract other types of investors who are looking at valuation and things like that
Gasparino "FBN: Blackstone on verge of buying KCG/taking private for $1.2b before trading screwup; Jeff earned $20m using BX diligence on current deal" So who is going to buy now?
http://www.sec.gov/Archives/edgar/data/1060749/000119312512338098/d392396d8k.htm Some pref stock hav voting rights, pref only forced to convert if the stock is above $4.5 for a period of time, they can suck dividends in the mean time
You are right, I forgot to subtract 1 from my local time. Do you know which ECNs open up that lead to this liquidity burst at 8am?
"Knight Capital downgraded to Underperform from Market Perform at Keefe Bruyette Keefe Bruyette downgraded Knight Capital to Underperform citing valuation following the company's $400M investment. The firm has a $2.50 price target for shares." I'm treating KCG as a promoted stock at this point. You have essentially these gamblers keeping the shares at unsustainable levels. Its just that in this case they did it naturally instead of being the result of spam or a promoter. Stock is likely to drift down towards it more sustainable level over the course of some days/weeks.