Can you please revise the percentage increase error in my stock picks?
in my open stock picks, PROS is listed as n/a. this is because they completed a merger with Meadowbrook insurance Corp.
the result of this merger would be
that 40.6378% of my shares of PROS would be converted to cash=$8.12756
and 59.3622% of my shares of PROS would be converted to 2.5 shares of meadowbrook stock (7.02 at time of closing)=1.484055*7.02=$10.4180661.
Therefore, value of PROS in my portfolio on socialpicks would be valued at $18.55.
the percentage gained on the stock should be adjusted to 11.48%
in my closed stock picks, GMST is listed as a -5.97% loss in my portfolio. that should not be the case. GMST was taken over by MVSN in a 55/45 stock/cash merger.
The terms of the deal were such that 45% of ones GMST holdings would be converted to cash, at 6.35 per share, and 55% of ones holdings would be converted to .2548 shares of MVSN stock.
based on the closing price of MVSN on May 2nd, 2008 (16.65)(which was the day of the closing), the value of each GMST share was actually $5.190831 ((.55 * .2548 * 16.65) + (.45 * 6.35)).
Therefore i should not have lost 5.61%, rather i should have gained 10.68%.
Can you please correct this error?
thank you,
hgeek23
