20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Traders are reportedly doubtful about antitrust approval for Tapestry Inc’s (NYSE:TPR) $8.5 billion acquisition of rival Capri Holdings Ltd (NYSE:CPRI), despite Tapestry’s confidence in the deal.
Concerns arise from merging two major players in luxury accessories: Tapestry owns Coach, Kate Spade, Stuart Weitzman; Capri owns Michael Kors, Versace, Jimmy Choo.
If combined, they’d rank fourth globally and second in the Americas, attracting regulatory attention, according to a report from Bloomberg.
Capri’s stock is trading near $39, contrasting with Tapestry’s $57-per-share offer, signaling skepticism.
CEO Joanne Crevoiserat remains optimistic though, aiming to close the deal within the year.
The merger arbitrage community turned bearish after FTC (Federal Trade Commission) officials hinted at market competition concerns, as per the report.
European and Japanese regulatory approvals for the merger are secured. However, U.S. clearance is pending.
Price Action: TPR shares closed lower by 0.75% at $40.83 on Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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