Monday, April 13, 2009

Image Update

We're well through early trading today and Image has not released any information related to the Nyx deposit. I suspect that Nyx has failed to make the payment and that the parties have entered into another round of negotiations. However, the stock is holding up well given the lack of news (essentially unchanged; currently trading at $1.40). I find the lack of price movement somewhat unusual. Maybe someone has some information related to the transaction (historically, there has been quite a few leaks with the Image transaction). If this is the case, the buoyed stock price may be indicative of the fact that Nyx and Image are finalizing the transaction. However, given that Image has not released any press release, this explanation is probably unlikely.

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