By Gunnar Heinrich | IMG LensOnLeeuwenhoek.net
INVESTORS, it seems, were looking to make a quick buck euro.
As of Friday, Jan. 22nd, one share of Spyker Cars, NV (AMS: SPYKR) could be had publicly for 2.15. Fast forward to Monday’s close, and the stock was up again to 3.80 on much higher volume due to rumors that Spyker could clinch a deal with GM to buy Saab.
On Tuesday, share price rose again and then settled at 3.91 before the exchange halted trading in advance of the announcement that Spyker had, in fact, pulled off the deal.
When trading resumed on Wednesday, the price peaked at 6.80 a share before some investors rushed to sell; for some that meant locking in a gain of more than 200%. The sell off dropped the share price to 5.21 before rallying again to 5.75.
But as financial reports from Bloomberg and others have started trickling in on the enormity of the hurdles Spyker faces in revitalizing Saab, as of this article’s posting, Spyker’s price now stands at 4.05 per share on a day when the stock’s price started at 5.14 a share.
Historically, those who invested in Spyker’s initial public offering back in ’04 are still seeing red: that offer was 14.83 per share. But there is a positive note: if the past any indicator, there could be stronger highs in the future.
Spyker’s stock peaked to an all-time high in April, 2006 @ 22.35 a share.
[Source: Google Finance]