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.