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Lehman (LEH) is trading like United (UAUA) did yesterday. Panic has set in and the stock is off 30% to $10. The shares moved as low as $8.
Rumors in the market range from the firm facing much larger-than-expected write-offs in the quarter to be announced later this month to several potential investors in both the parent and Neuberger walking away.
There is also analysis being passed around that the market cap of Lehman is less than the value of Neuberger, leaving the balance of the company’s businesses at zero.
Douglas A. McIntyre
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