Quote:
Originally Posted by zamler
AMZN is tanking ~15% in after hours dragging down other stocks with it. Can someone explain why a current TWTR shareholder would sell today? Don't we simply get the buyout price? Or is selling a move to defer taxes?
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The majority of Twitter shares are in the hands of merger arbs right now, many of whom are sitting on huge profits. These are funds that try and earn low volatility, low correlation-to-the-market returns. In a year where the averages are down big one big win has the potential to make your year, and make fund raising next year easy. Locking that in just in case Elon does something insane in the next couple of days makes sense for that constituency.