Speculator buys into CART

[rustyfan]

Not sure if this has been posted already, but I just saw this small notice over at www.autosport.com;

Speculator buys into CART

Gryphon Master Fund, a Bermuda based investor, has acquired 5.8 percent of the outstanding stock in Championship Auto Racing Teams Inc. Three days before CART announced third-quarter losses of US$34m, Gryphon notified America's Securities & Exchange Commission that it had acquired 854,400 shares through an agent in Dallas, TX. The previous week, CART stock was trading on NASDAQ's OTC board at between 42-52c. The buyout offer from Open Wheel Racing Series is 56c.

That's the full article, so I figured I might as well post the whole thing, rather than just a part and then the link.

Personally I don't have a clue to what it could mean (I guess it's good though that someone wants to invest), but I figured there might be others here who would be interested in seeing it

[Jay]

Sounds like someone trying to make a quick buck....nothing significant from CART's viewpoint, except it may drive up the price a bit...

[Emfa]

Originally posted by rustyfan
Not sure if this has been posted already, ...

Actually, yes. Here and here.

By all accounts, there really doesn't seem to be much to it...