Just too dam good not to share again nearly 20 years later.
The self-dealing among seat-holders, Tommy selling to Bobby, then Bobby selling to Tommy, and on and on and on. The price only went one way!
The move in seat prices over the last 11 months from around the $970,000 mark to $4,000,000 is one of the best moves in the stock market this year. Has anyone figured out the "self-dealing" to run prices higher? There are entities who own 5, 10, 25, over 40 seats who have been buying more to run the price up going into the merger. Anyone figure out who was doing the selling?
Uninformed seat-holders maybe?
Nawwwwww. Not a chance
The NYSE became a for-profit organization and its private membership disbanded. The 1,366 NYSE seat owners profited from the sale, each receiving 80,177 shares in the new public company, $300,000 cash, and $70,571 in dividends.
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