Amgen Tender Period

Amgen outperformed greatly during its tender period, as the statistics said it should. Logic also dictates that a company that repurchases 10% of its shares in one fell swoop should perform well. Despite this no less than 3 analysts downgraded Amgen during the tender period. More remarkable, in addition to downgrades Amgen received other bad news during this period and still managed to outperform.

I sold my shares early but was able to profit off of the tender offer. I find it amazing what nonsense people trade off of, yet when there are situations like this where the odds clearly favor a trade they are largely ignored.

2 comments:

Anonymous said...

i hope you enjoyed your time off...the beach was great...

Tsachy Mishal said...

Thanks. you too. Where were you?