BearStearns is Back

[Wesser]

Bought last Monday for $2.92 a share... just sold for $11.43. F'n awesome. Knew the threat of shareholder derivative actions would raise JP's asking price, but no idea that would come back as high as they did. There is still gold in them thar hills, boys.

 

[HatDaddy]

I had a hunch that would happen when we talked about them ono another thread.
Shoulda, coulda, woulda.

 

[Wesser]

Hell, I got out too soon... up to 13.50/share last check. Jeez. It was $2.00 last week. Almost 7x gain...

 

[YoLaDu]

Well $10 is better than $2, but $10 is pretty crappy compared to $160 which it was a several months ago.

If you owned 1000 shares, you went from having $160,000 dollars to $2,000 to $10,000. Still pretty crappy.

 

[flyingdoggystyle]

I thought the announcement today was great. Company will issue new shares to JPM to give them a large percentage ownership (forgot the exact figure) and this action does not require shareholder approval. You have to think that the debt holders acquired a large enough percentage of the company over the last week to push this pig through. Maybe I will look at a buy/write of the April 10's.

 

[goofyboy]

what do you mean by buy / write on April 10??

 

[froghorn717]

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[zzzz]

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