ELN—I don't quite understand why the stock would rally on this news.
Investors interpreted the company’s statement about possibly “receiving” a buyout offer as tantamount to the BoD’s willingness to accept what they regard as fairly priced offer. I.e, there probably won’t be a need for suitors to go hostile.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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