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Why does CMG-B trade at a discount?
CMG-B shares have the same ownership rights and 10x the voting rights of CMG yet they continue to trade at a 7% discount to the CMG shares. Why? It's been several months and the gap never closes.
1 Answer
- 1 decade agoFavorite Answer
There is no real reason that the B shares should trade at a discount. The enhanced voting rights should cancel out any concerns over liquidity.
There was an article about this in the Wall St.Journal a couple of days ago, which discussed this issue.
If you short the A's and buy the B's, you can lock in a virtually risk-free 7% profit. The problem is that this discount may persist for a while.
