Traders Watching CKXE Ahead the Pricing of its 15M Share Offering

Traders are watching CKX INC (NASDAQ: CKXE) ahead of a possible secondary pricing Monday night. There has been talk and reports that the deal is in bad shape. But according to some, there may be some institutions that may want to give the street the impression that the deal is junk so they can buy on the cheap. The stock is down over $9 since the company announced the 15 million share offering, but still has a hefty valuation. Also, some traders are watching for a sell the rumor, buy the news play after the offering prices.

CKX, Inc. owns rights to the name, image and likeness of Elvis Presley, the operations of Graceland and proprietary rights to the IDOLS television brand, including the American Idol series.

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