Q: Hi, I’ve always wondered and wanted to ask how and who makes the 68% return at the open today on CWB? It closed yesterday at 24.89 and opened 9:30 this morning at 42.65. Thanks.
5i Research Answer:
Anyone owning the stock as of Tuesday would have seen a nice gain on Wednesday. Every share of CWB was 'instantly' worth more with the announcement of the takeover. Anyone buying Tuesday essentially got lucky, and sellers on Tuesday were unlucky.