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Market in terrible shape, LNC incorrectly priced |
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Written by Administrator
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Sep 05, 2008 at 11:19 AM |
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Page 1 of 2 The big story on the market today was Linc Energy - which just sold some of its tenements for $1.5B, to be paid over the next seven months. That payment equates to $4.67 per share. LNC closed at $4.35, which (even after factoring in some risk that Xinwen ) means that you get the rest of the business for nothing.
The rest of the market is tanking though, US unemployment is at 6.1% now, and the Dow is currently down 127. Based on most recent earnings, everything's looking a total bargain. That'll probably change, though. Ring-a-ding-ding, cash is king.
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Last Updated ( Sep 05, 2008 at 11:19 AM )
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