I witnessed GLP gap down and plunged 7% today when the market opened at 9am earlier in the morning. I am not sure what the news was, but I managed to find the news as per the link below.
http://www.straitstimes.com/business/private-equity-groups-turn-their-back-on-glps-landmark-asset-sale-ft
I am not a fan of GLP ever since my student secured $137,000 from it 4 months back. Yes, ever since the stock had been continuing it's up trend but there is also a risk of the company not being able to privatized as the GLP chart was showing some signs of bearish behavior. Since then, we had been rotating to many other stocks instead of staying put and waiting for the final news. See my student's $137,000 profits in GLP on the below link. As of now, the news is lingering and I will stay out of this counter as it's expensive and low return. Scouting for better trades.
http://stockmarketmindgames.blogspot.sg/2017/02/students-swing-trades-now-up-137750.html
Ronald K - Market Psychologist - A Stock Market Opportunist
