Four days ago, Wall Street was promised by the CEO of Bear Sterns that the company was not in jeopardy. At this time, the stock was trading at the $70 range. Friday's trading dropped the stock to $31. Over the weekend, JP Morgan made a bargain-basement offer for the company at $2 per share!
They are paying $236.2 million for $30 billion in assets! This is less than 1% of the company value...
However the value of this company as well as all the financial stocks is in Question! Lehman put volume on Friday was extremely high suggesting that they might additionally be in trouble.
The
index futures are down sharply!
Dow - 11,700 (-275)
S&P - 1,254 (-38)
NASDAQ - 1,680 (-44)
Learn how AppleOption trades in these volitle marekts! We teach you by showing all of our trades. Visit
AppleOption.com