SNPO - Snap One: Shares Now Worth At Least $10.75 A Share Post Acquisition Announcement
2024-05-05 10:31:02 ET
Summary
- Snap One Holdings Corp. shares are expected to continue trading at the buyout price of $10.75 per share.
- Forward-looking earnings revisions for Snap One remain bullish, with expected bottom-line growth surpassing 16% for fiscal 2024.
- Snap One's value continues to be grow through ongoing product launches, improved omnichannel presence, and strong relationships with integrators.
Intro
If we pull up a technical chart of Snap One Holdings Corp. ( SNPO ) (US-based commercial & residential smart-living solutions outfit), we see that shares quickly (on the announcement of the pending acquisition by Resideo ) moved up toward the buyout price of $10.75 a share. Astute shareholders would have sold their SNPO shares promptly on the news on the expectation of limited upside in Snap One Holdings until the acquisition finally goes through (expected in the second half of calendar 2023). Suffice it to say, the only risk now to current Snap One investors (who did not sell on the acquisition announcement) is that the acquisition is held up for some antitrust or regulatory issue over the upcoming months. In the absence of any forward-looking roadblocks, we expect shares to continue to trade for at least the buyout price just below $11 a share....
Snap One: Shares Now Worth At Least $10.75 A Share Post Acquisition Announcement