When Goldman Sachs (GS) announced earnings and a $5 billion equity offering following Monday's close instead of in the morning on Tuesday, many asked what the rush was to release the news. After today's trading, now we know. By announcing the equity offering after Monday's close, they were able to strike while the market was at a post March 9th high and sell stock for $123 per share. If they had waited until this morning to release the news and announce the offering, the company would probably have had to wait until at least after the close to price the offering. And with a 2% decline in the S&P 500 and a lousy retail sales report, it's hard to imagine that investors would have been as willing to pay $123 per share. With the stock closing at $115.11, the $5 billion stock that Goldman sold is now only worth $4.67 billion.
You got it.
Posted by: Greg Feirman | April 15, 2009 at 12:18 AM
it was a B.O.T. deal,or you could call it sharing the book...all the players had cover on
Posted by: dj | April 15, 2009 at 10:25 AM
I hope I live long enough to see ALL the schemers H U N G.
Thou Shalt Not Steal=an eternity and it is not soon enough because this nation and the descent hard working human beings are becoming bonded slaves to the world due to TREASON within and thanks to all our current and former presidents and their gluttista deceptive unconscionable EVIL
Posted by: StopUSAGiveaway | July 31, 2009 at 07:50 AM