UP's share price has now settled back in the $1.10-$1.15 range after running up as high as $2.00. Admittedly, I sold about 1/2 my stake in the co.. The current sp is roughly equivalent to the takeover value based on Monterey's net asset value. It's difficult to truly evaluate the co. when Monterey is private and investors have no access to past financials.

I am curious what those investors were intending that were chasing it at higher prices. Were they hoping for a higher takeover offer? Are they aware of Monterey (its prospects, management, etc.) and saw this as a cheap way to access shares before the two are merged? I guess we'll have to wait until the takeover is complete before we can glean any true evaluation of the merged company and its prospects.

Have a good day!