Celeb News: TIDAL Shares SOAR Over 1000% Since Launch

simon

Quote:

Shares in Aspiro soared by 1,000 percent on Tuesday as investors clamored for a stake in the Swedish music streaming business bought by rapper Jay-Z this month - but face big losses as they will be forced to sell out to the U.S. star within days.

Jay-Z bought more than 90 percent of Aspiro earlier this month in a $54 million deal. Under takeover rules, owners of the remaining shares are required to sell them to him at the bid price - 1.05 crowns each - in a "compulsory squeeze-out" after the company is delisted on Thursday.

However investors appeared to be unaware of this requirement and piled into the stock following the star-studded launch of Aspiro's music streaming service Tidal.

"There are reasons to suppose that some have not noticed the communication around the bid," said Nasdaq OMX Stockholm spokesman Martin Hedensio, adding the exchange saw no reason to cancel any trades.

Jay-Z's company Project Panther Bidco said this month it would start a compulsory purchase of the remaining shares and delist Aspiro from the Stockholm bourse. The last day of trading is April 2.

http://www.reuters.com/article/2015/...0MR1DF20150331

"Jay Isnt A Business Man!" "Backlash!"

Jay making one of the smartest business deals with a publically traded company.

Seems like the impact matter where it really counted.

Bang Up

Well duh, it just started.

Golden

Giving me GTA stock investment teas.

Iman

slaying

BTrisc

I would hope so, considering no non-ATRLers knew it existed until yesterday.

UnusualBoy

Well it didn't have any following back then so...

Homogenic

Not like there was that many users before I suppose

babyboy44

make it free for web browsers, I might think about it!

LilyAllen

Of course its gonna be like that it was launched literally yesterday

Golden

Quote:

Originally posted by Homogenic

Not like there was that many users before I suppose

?

This has nothing to do with the amount of subscribers. This about stock money.

Sanctuary

Serving ENRON.

RedRed

It literally launched yesterday lol

bey0nce

Oop!

nnn those poor shareholders who didn't realise that they have to sell the remaining shares back to Jay

crowne008

Jay doesn't lose.

NewRihannaStan

Ok cool

Forevermore

Giving me Ouya teas...

StephenNYMonster

Did you not read what you highlighted?

Quote:

Shares in Aspiro soared by 1,000 percent on Tuesday as investors clamored for a stake in the Swedish music streaming business bought by rapper Jay-Z this month - but face big losses as they will be forced to sell out to the U.S. star within days.

Sanctuary

People are more willing to invest in something once a high profile celebrity buys it out?!?!

Schoolin' Life

Real life Empire tbh. Lucious could neva.

simon

Quote:

Originally posted by StephenNYMonster

Did you not read what you highlighted?

Yes, that is the point. All investors are required to sell their share back to Jay at a specific amount. However, they purchased shares for 10 times as much as it was going for - without realizing that.

So it's essentially a win win for Jay! It's just funny when people say he "isn't a business man" when he just finessed Walstreet - something other cooporations do all the time.