Here’s my dream scenario for bedtime. ABK
Tuesday: overall market tanks big, down a couple hundred points at least. ABK having taken the huge haircut Monday holds up fairly well and is down only 1-2% or even flat to green for most of the day. Around 3PM EST the Fed announces an inter-meeting rate cut, causing the markets to skyrocket into the green and ABK to go up 10% along with it.
Wednesday: Gasparino comes on Squawk Box around 8AM and says the deal has been finalized and there is minimal dilution and Moody’s reaffirms AAA. Shortly before market open the actual PRs from ABK and Moody’s hit the wires. ABK rises 30%-50% on the news to close around $15.
Thursday: I am finally able to GET THE HELL out of ABK and MOVE ON! Time to CELEBRATE!
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