BlueStar: What’s in a Name? Probably a Hint

SHANGHAI (Reuters) - Blackstone Group (BX) has agreed to buy 20 percent of chemical maker China National BlueStar (Group) Corp for up to $600 million, the private equity group said on Monday, marking its first major investment in the fast-growing market.

BlueStar? BlueStar...cue the DVD:

[Blue Star has gone from 24 to 16½]
Gordon Gekko: Where the hell are you? I am losing MILLIONS! You got me into this company and sure as hell better get me out or the only job you'll have on the Street is SWEEPING IT! You hear me, Fox?
Bud Fox: You once told me, don't get emotional about stock. Don't! The bid is 16½ and going down. As your broker, I advise you to take it.
Gordon Gekko: Yeah. Well you TAKE IT! Right in the ass you [expletive] [expletive] [expletive].
Bud Fox: It's two minutes to closing, Gordon. What do you want to do? Decide.
Gordon Gekko: [calms down] Dump it.

Blackstone is, of course, just working on 16½. But at Monday’s close of $21.88, it’s off about 30 percent from its Jun. 22 IPO price, and more than 40 percent since its $38.00 high that day.

Comments

[Andrew:]

Correlating an actual stock to a movie may be humorous but not really useful for anyone.

Maybe a more substantive piece with Bluestar's business profile would be more useful.

2007 Sep 22 10:30 AM