Monday, September 29, 2008

What is Going On?

Wachovia is getting cut in half in the premarket even though the stock has already come from $60 to $10 as of the close Friday. This is happening even as Citigroup, Santander and Wells Fargo may be preparing bids.

Who the hell still owns Wachovia? Who needs to sell it this morning?

I don't get it.

Edit: OK, I get it now. The bid was effectively zero.

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