<<when did you get info from the supervisor, and is the supervisor a friend of yours?>>|
Over the weekend at a picnic, he's a "close acquaintance" who's very accountable and knows the retail business pretty good.
<<Did he say there would be an annoucement this week?>>
That's the one thing he didn't really have a good handle on.
<<Why do you think the stock will correct downward?>>
When the $3/share announcement came out it shot up to $2.75; it closed today at $2.125 - my reasoning is that the initial announcement created the upswing, but lack of news as to who is buying HECHA as well as when a buyout might take place is creating doubt where people are taking profits while they can.
I would just feel better about it if I got just one confirmation from another source - not that I doubt my friend, but who know what can happen in the meantime?
I know KM was trying to sell Builder's Square, but consider this angle; if there were no takers for BS as is, why not shore up KM's interest in the Home Improvement arena and sell BS + HECHA as a package deal? Or that may well be a reason to stay involved in the Home Improvement arena -- I might be streching a little, but who really knows what's up at this point???!!!!