Just because the stock moves does not mean anything in terms of outcome.
I think that it has gotten ahead of itself now. That is my writeup. To serve as a psa that the commons are pricing in a near certainty recap and release success at market valuations with pspa face value conversion as a base case.
Ackman is saying infinity is the limit. I am saying current prices are already best case. Ackman is overlooking the pspa for reasons that boil down to nothing material to me. I think we will find out soon! In the meanwhile, I am going on record.
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