Replies to post #280 on Pacific Capital Bancorp (PCBC)

[fastlizzy]

This is interesting....

The current run up is due to the Ford group buying up as much of the float as possible. The reason is simple, even though they will own 90 per cent with out buying up the float, if they buy up the float, they will own even greater percentage of the total. If the float can be reduced to 5 % or less, they can put the ensuing price whereever they want it. A brilliant maneuver. Some one is thinking.

I don't think they want the pps under $5!

[LouMannheim]

Did you actually buy puts or sell short in anticipation of the decline? It looks like the price has found a range of $.90 to $1.10.