Explanation of National City pricing ?

[GREED777]

Hello, I'm new to the forums and fairly new to the market. I was wondering if someone could offer up thoughts or explanations on why National City (NCC) shares were trading in the $2.40's today when the purchase price from PNC is set at $2.23/share. I was able to unload most of my shares before the announcement with nice gains, however I still had an additional 800 shares after the announcement. I ended up unloading them yesterday at $2.27, thinking that it had no reason to go higher. Today it hit $2.50?? What dynamic am I missing?

[BadThad]

Welcome to SMC!

Regardless of the the stock offer by PNC, the market is driven by supply and demand for shares. Generally, shares trade close to the offer but will definately rise and fall around that number.