OT - LGF
OT- LGF - Can't cut and paste the story or link (board feature?
story feature?), but LGF is getting pummeled the worst in the past
year - down 6%+. Reasons given: They've narrowed guidance, plus a
their biggest shareholde, Rachesky's MHR fund announced a fairly
huge shelf offering at $32. That's 1/5 of their stake in LGF. It's
worrying not so much because the size of the stake being offered
(MHR will still be the biggest investor), but the fact that it
signals that a private party couldn't be found to be the buyer.
Yes, I'm glad to make $1 on the Apr stk 34 calls I sold, but this
short trip from $34.17 back to the $31's feels like the same old
routine, perhaps - a trip back to the 20's and then to the
mid-30's. The fact that Lionsgate previously announced a joint
venture with Dubai to build a theme park just has me scratching my
head - what? Hunger Games is certainly not Mickey Mouse. It's not
even Lord of the Rings (how well would a LOTR theme park fare?)
Yes, it's a cut above a 'Spice Girls' theme park, but I must be
terribly out of touch with popular culture to think this sounds
like an extremely bad idea. Maybe the park will be made out of 100%
recyclable material so after the 3rd film it can be torn down?
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