Back on May 28, 2008, I explained why I thought Schering-Plough common stock was fairly valued at an intrinsic price per share of between $17 and $16. This morning, I post an update, in part to make a record of the outcome of a much-earlier bet on the Yahoo! stock chat-boards — I had said that SGP would be closer to $17, than to several others’ predictions of $26, come 10.01.08.
And so, here is how Schering opened, on the NYSE, this morning:
Schering-Plough @ 10:10AM ET: $17.96, Down $0.51, Off 2.76%