Italy's Alfasigma To Acquire Intercept Pharmaceuticals For $19.00 Per Share In Cash

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00:00 We've got a ICPT getting acquired here by Alpha Sigma.

00:05 It looks like $19 a share.

00:07 Currently ICPT is halted for news.

00:10 That news has broken at eight o'clock.

00:13 They're getting bought out by Alpha Sigma for $19 in cash.

00:18 I tell you something, man, this is XBI's day.

00:21 It's been in the gutter.

00:23 Full disclosure, I do have a long position XBI,

00:25 day trading long, so I will be selling this

00:27 probably at the open here.

00:30 I'll give you the reasoning behind that in a second,

00:32 but it's XBI's day, I'll give you the reasoning right now,

00:35 because there's multiple pharmaceutical stocks

00:37 that are really popping here this morning,

00:39 and that is why XBI is already trading higher here.

00:42 And if you're looking like you've got one ICPT,

00:45 so we're just doing the quick math here,

00:47 close to 1044, taken out at 19 cash.

00:50 Now, won't trade at 19, I don't know if there's,

00:52 it's not gonna, but it's probably gonna trade up,

00:54 I would imagine, into the 17s at least,

00:56 maybe even into the 18s here.

00:59 So that's the one piece of news,

01:00 but then you have a whole bunch

01:01 of other pharmaceutical news here too,

01:04 Mitch, maybe go down, I know we were supposed

01:06 to talk about this later, but I brought it up

01:07 just because that ICPT breaking news.

01:10 There's two other XBI components

01:11 that are popping here this morning as well.

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