Still on my soapbox regarding UTA and their stock raising at $7 a share. I saw today a little more detail about the transaction (Brean Murray, Carret & Co. Completes a $20 Million Follow-On Offering for Universal Travel Group).
What is interesting is that Brean Murray is the only analyst with an opinion/estimate on UTA. They said to "buy" back at $9.30 a share in late March. In my opinion there may have been horse-trading involved... "you start us off with a "buy" and we'll steer a stock placement to you." Doesn't matter to me, as I bought UTA way earlier and B-M did not cause my decision. But people who bought at $9.30+ (they ran up to $10 post the buy recommendation) were potentially screwed in my opinion if B-M was aware of the likelihood of the secondary.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment