MSG has copped a hiding since they came out of the suspension yesterday and I actually thought the announcement was OK. Not fantastic but certainly not enough to knock it back into the low 3s.
Anyone got any suggestions as to why?
I cant figure it either, they are handing back 18 million shares for 27 million 6c options, whats the big deal. :dunno: about 2.1% of the company changing hands yesterday and today, again no big deal.
Perhaps it was the low cash holdings and profit? maybe some (like me) were expecting a consolidation? perhaps the dividend expectation was a bit much..reckon they will be lucky to pay 0.005