Monday, April 03, 2006 7:29:23 AM
Worst case scenario is that people were betting on GFCI having 100MM shres or more outstanding, and the fact that they are hinting at 37 makes GFCI probably worth twice what it was, about 30 cents. Since the spinout was in question, GFCI was probably priced in the range it was just as itself, so we might just be adding value from next to nothing. Price the addition onto .35 and we get .61-.66 pre share of GFCI.
So if there are people who are covering from this news that's conservatively where they're pricing the upper end of GFI right now, until more news comes out.
I'm still a buyer at these levels.
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