Wave Chasing » News http://wavechasing.net Trading my way to the beach Fri, 20 Aug 2010 01:08:06 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 $2 a share?? http://wavechasing.net/2008/03/16/2-a-share/ http://wavechasing.net/2008/03/16/2-a-share/#comments Mon, 17 Mar 2008 00:45:07 +0000 CDC http://wavechasing.net/2008/03/16/2-a-share/ Just saw the announcement come across the wires that JP Morgan has agreed to acquire Bear Sterns for $2 a share. BSC closed at $30/share on Friday afternoon.

I really assumed it had to be a typo – $2 a share? That is essentially saying that the company is worthless – so, why even bother?

Obviously we’ll get more details as time goes on, but this seems a little nuts to me.

ETA:  Unscheduled quarter point rate cut – if only to offset the disaster of the BSC sale?

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