Canadian Imperial Bank of Commerce Stock is down over 2.4% on the morning of Mar 30 2017. The drop came thanks to their decision to jump their offer for PrivateBancorp from $3.8 billion to $4.9 billion after some PrivateBancorp shareholders voiced disapproval with the original buyout offer.
Worried that when the shareholders vote the majority would vote down the takeover offer, CIBC felt it was better to boost the offer now rather than risk losing the acquisition.
This article outlines how I plan to handle the trade on Thursday as well as going forward over the next week or two depending on how the stock performs.
CIBC Stock Trade Alerts
The rest of this trade alert and ideas article is for FullyInformed Members..
CIBC Stock Trade Alerts – Mar 30 2017
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Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.
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