Your point about emotions is 100% right on DK. This stock will trade at what ever price people want it to trade at. I remember a gambling dotcom a few years ago that shot up to unheard of prices merely by mentioning that they planned on filing to become a listed company.
And its difficult to foresee where Frank plans on taking us with respect to share structure. Right now we are being told that the outstanding is 7.5 to 9 B. The actual "float" may be less than half of this in order for Frank to remain majority shareholder.
And "Wallstreetblues'" scenario (#6114) on the buyback certainly seems logical.
But there are even other intangibles that are difficult to foresee. It's difficult to recall the details now, but a few years ago when GAAY morphed into QBID, Frank told us that he had retired a huge block of his closely held GAAY shares in order to help shareholders out on the exchange ratio. (And a last minute adjustment in the numbers did actually take place as I recall.)
Anyway, and please don't even consider this to be even a rumor, but I could kind of see a similar magnanimous gesture from Frank once again as he proceeds with the restructure.
For example, as the buyback proceeds, perhaps he's figuring that he'll retire a portion of his closely held shares in tandem.
Should that happen, not only will the float go down, but the outstanding shares could go down twice as fast as with the buyback alone.
It's additional hypotheticals like this that have to be factored-in to whatever emotions are driving share price IMO.
Ron
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