Charter Communications
Wonder what's brewing over at Charter (CHTR). I'm not involved, but I notice it's one of the best performing stocks on the planet for the past few months. What really caught my eye was that sharp reversal, after a rather ugly day that saw something on the order of 80MM shares traded. The only "news" I see is their debt swap in August, but it seems like they do one of these every 6 months or so. Anyhoo, might be nothing... but it certainly makes you wonder, no?
posted by FRx at 10:25 AM
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1 Comments:
they're exchanging for a convert which is forcing the convert arb guys to buy back the stock they shorted vs. the debt .... it's not just debt for debt , but debt for debt/ short stock
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