Well, 2023 went really well with less than market risk so well done me.
First trade of 2024 is $CPRI which is being taken over by $TPR at $57 cash.
FTC is looking into the merger and has asked for a second review, but it's really hard to see them being made a bigger laughingstock over actually trying to block a midtier leather bag and expensive shoe merger than the giant laughingstock they were made over the ATVI deal.
Deal is supposed to close ~end of Q1 now since FTC asked for more info. 14% deal spread is a nice annualized rate. It's a $6bn deal so you can buy all you want.
Tapestry has already raised the required funds in the bond market. No chance they try to [or can] void the deal with a MAC clause in Delaware.
Obv risk is deal breaking, stock probably drops to $35ish. Market is too pessimistic on this deal which is the issue.
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2024 Trading Thread | Forum
Alex Baroness
Feb 24
I actually owned shares in Capri last year. I talked about it in last years trading thread. It was way undervalued and then they got bought, by Tapestry. At first I was delighted, but then felt like Tapestry were buying it at a price that is still undervalued. At 57 a share the company is still only trading at 10 times earnings excluding 2023, which was a tough year for earnings, especially luxury fashion.
Claudette Leanna
Feb 24
A lot of traders here focus on stocks and options, but forex can offer a lot of opportunities too, especially with the right tools. I’ve been checking out forexflexea.com, and the flexibility it offers is pretty solid. The ability to tweak settings based on market conditions is a big plus. Anyone else here tried it, or do you mainly stick to manual trading strategies?
