Efficient markets? Newcastle Investment (NCT +2.5%) shoots higher after announcing May 15 as the...


Efficient markets? Newcastle Investment (NCT +2.5%) shoots higher after announcing May 15 as the spinoff date for New Residential (NRZ). It's not as if this is news (other than the exact timing), yet investors have rushed in to buy. One week ago, UBS noted the absurdity of anybody selling on the idea the spinoff wasn't going through. (PR)

Comments (2)
  • TwistTie
    , contributor
    Comments (2429) | Send Message
     
    Do we have any idea what the stock picture will look like after the spinoff?

     

    From the reference...
    "NCT $6 and NRZ $8, according to UBS."
    26 Apr 2013, 02:16 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (6919) | Send Message
     
    That assumes a $14 price for (NCT) before the spin-off. So take the percentage of each (6/14 and 8/14) and then apply it to (NCT)'s stock price on May 15th.
    26 Apr 2013, 03:46 PM Reply Like
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