156.99M float/1.40% float short/100% institutionals
playbook"Simon Property Group (NYSE: SPG) today confirmed that it has withdrawn its offer to acquire the outstanding shares of The Macerich Company (NYSE: MAC) for $95.50 per share, in light of the decision by the Macerich Board of Directors not to engage in discussions with Simon"
Alright, the takeover is toast, and this time for real. I would expect this thing to flush for the entire day, but the premarket action is strange somehow. It just opened up - 4$ from yesterdays close and is sitting there between 80$ and 80.15$ the entire time. A couple of sizable blocks trading at the bid, but no downside. This is definitely not a surprise.
Stop: 10cts above entry
R: -0.5
Had two short attempts. The idea bas basically alright, but the stock was so choppy, I just could not hold my position.
Execution detail:
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!