posted on
Jan 20, 2021 02:18PM
Message: Re: $22
Pavel...I've got more than 20k shares of LAC, so I know how you feel. But you'd be foolish to sell it now. $22, IMO, is essentially the new floor. We might dip a little below, but not much. Teens are gone. LAC already said the offer is closing Friday at the latest. Instiutional buyers just snapped up the $350m worth of shares today is my guess. They aren't buying it because it's going to dip 20%+ quickly. It's got nowhere to go but up.
I'd originally planned to sell 1/3 of my holdings through covered calls at $25 and another 1/3 at $30-35. After seeing the offering at $22, I quickly bought out of those calls at a loss because I feel strongly that not doing so would've been leaving money on the table. Now, more than ever, I'm bullish on LAC.
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