Miss SE's $26.75 Offering But Think It's A Steal At $25?

Looking back to 168 days ago, Spectra Energy Corp (SE) priced a 12,800,000 share secondary stock offering at $26.75 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time and based on early trading on Wednesday, the stock is now 14.7% above the offering price.