no!, general growth is not selling stock, it is holders or shorters of the stock who are selling and someone is buying those shares. that is what creates a market. what i'm saying is that it is fairly easy to manipulate this stock with not much volume and that i expect that leading up to the three day period in which the average price of the stock will be determined for purposes of paying the dividend that i expect there will be continued downward pressure.
say you own 12 thousand shares of the stock and that the average price as determined on the three days around the 20th of january is $12/share. based on a $0.19/share dividend you would receive a dividend equal to $2280 (12k shares x .19 = 2280) the amount of the dividend has already been determined. what hasn't been determined is the value of the stock for purposes of paying the dividend.
lets also assume you are going to take your total dividend in stock. if the average stock price is $12/share then you would get an additional 190 shares of stock as a dividend (2280/12 = 190).
now, let's assume the stock price is driven down to an average price of $10/share over those critical days in january. if average stock price is $10/share you would receive 228 shares (2280/10 = 228).
if you recall last year when simon paid its dividend in stock. the simon shares were trading around the mid-thirties. every share of simon stock which was received as a dividend last year at that time is now worth around $75/share. don't know about you, but i would rather take the dividend in shares at a lower price and see some rather quick capital appreciation that take the cash and figure out how to double or triple my cash over a similar period.
this stock will be volatile over the next few weeks for a number of reason: determining the average stock price for purposes of paying dividends; credible announcements regarding the progress of settling the remaining secured debt; credible news regarding the disposition of the unsecured debt; credible news about the emergence of various properties from bk as the por is approved; general good or bad news in the market which may or may not have anything to do with ggwpq; and most importantly ggp's announcement that is has completed it business in bk and emerges as a healthy company. add in a real buyout offer as opposed to some company's expression of interest, and this stock will also move.
