Simon just pulled the plug on their $96 takeover bid for this company. They gradually started their approach back in November of last year. So the stock got to that price and it was rejected as it underestimated the value of the company. We saw something similar here when the takeover of Potash was blocked by the premier of Sak. and the company itself. That was political, this is economic all though their might be some anti trust issues.
Farmers sew in order to reap, and they do so when the sun shines. Investors never buy with an eye to selling later, not even when it concerns a purely cyclical stock. Also they never recognize that the sun is shining, here you can tell by the c=a in the large B-wave and by the double-top situation (within $4 or so). Ron Mock, the CEO of Teachers was on BNN the other day and it was advertised that their biggest position was in this company which, in part, explains their excellent performance and their “totally funded” status. I do hope they have a few farmers or E-wavers to provide some counter-weight to their overly scientific and intellectual approach. PHDs are good but nothing trumps common sense.