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Monday, April 6, 2009
GGP Stock On Fire, Company Pleads Ignorance
The company has announced that as a result of the unusual market activity in the common stock, the New York Stock Exchange contacted GGP and requested the issuance of a public statement indicating whether there are any corporate developments that might explain the unusual activity. The company announces it is not aware of any corporate developments that might explain the unusual market activity. Maybe Ackman hired one of the laid off Simmons algo guys who is experiementing with the "never sell" program trade.
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Standard & Poor's on Monday said it will make negative pronouncements on U.S. commercial mortgage-backed securities on a "large scale" in coming days after a review of the securities.
The most-recently issued CMBS are "highly susceptible" to downgrades, including top-rated "AAA" issues, after the review that accounted for eroding real estate markets, lack of financing for the assets, and the economic recession.
http://www.reuters.com/article/bondsNews/idUSN0627794920090406
Ackman prob having someone create activity. Probably Whitney Tilson!
It's a dollar stock, does it really take a whole lot to move the needle? All you need is the right old white guy staying at the Hampton Inn across the street or the right EMT-grade itinerary for Omaha to accidentally get copied to a non-corporate email for people to get moving.
Well, one interesting hypothesis I've heard is the ascending triangle breakout...
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