Shares in Madison Square Garden Inc., the owners of the Knicks, jumped $1.30, or 6.4 percent, to close at $21.57 Wednesday. Volume was up dramatically at 1.7 million trades, more than five times the daily average of 311,000.
This is a perfect example of how traders have access to more information than the broader market. The Maestro made a hefty bet as well on MSG back in March, so he is hopeful to make a windfall on LeBron - if he in fact comes to NYC.
Thursday, July 8, 2010
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