My stock in Wachovia bounced well with Bernanke’s unexpected .50 rate cut. It was up as high as 53, but now has settled back down into the mid 51s. I wish I had sold at 53, as I wasn’t planning on this being a long term hold. Until I find something better to put it in though, it’ll stay in WB. The stock is not very volatile (low B) so I’m not overly concerned. Earnings will be announced mid-to-late October.
WEN has also done well, up a few percent. It seems as though there are now at least 12 parties interested in buying the chain, and the rate cut should give an ease to the “credit crunch”. What that means is that financing will be easier to come by, and in turn mergers and acquisitions will start rolling. That’s my hope anyway
2 responses so far ↓
1 admin // Sep 28, 2007 at 2:00 pm
should have sold WB at 53 day after fed hike
had other opportunities in the 52s
today dropped from 50.60 to 49.60, presumably on news of approval of takeover by AGE shareholders (anticipated)
2 admin // Sep 28, 2007 at 2:02 pm
peaked at 53 on 8/19, day after surprise fed cut by 50 points
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