Normally, any takeover news is a huge boost to a stock.
Today’s Mint had a cover story on Onmobile which said that there were multiple offers for Onmobile and the company was “in play”
Despite this positive news and the fact that today the markets were up by 1.13% today, Onmobile stock tanked by 1.5%.
A mystery for Sherlock Holmes to solve or another case of “sell on the news”?
If I can give you one piece of financial advice, it’s: If somebody offers you a guaranteed 7% on your money for the rest of your life, you take it and just make sure the guy’s name isn’t Madoff.- said Mayor Michael Bloomberg
Zynga was touted as one of the hottest IPOs on Wall Street.It has lost 75% of its value since its debut last Dec.Its interesting to see how wildly optimistic ratings were given to the stock by sellside brokerages.
(Hattip:TRB)