Purchased AABA at $69.50, which is only slightly lower than current market price of $70.22.
Shareholders will receive $51.50 on 9/23/19. On 9/24/19, AABA will open down about $51.50. It would trading around $18.70 if this happened tomorrow.
I have invested in liquidations for well over 35 years. In nearly all cases, the amount paid out over time has been in excess of what management expects the liquidation value or is this example, NAV to be.
NAV at 6/30/19 was $74.15.
There are two types of investors: those who sit pat and those who reinvest proceeds. I do the latter.
Please do not consider this a recommendation. It is what I plan to do.
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