Friday, May 16, 2008

Edwards' Stock Tanks After Obama Endorsement

John Edwards' endorsement of Barack Obama in Michigan yesterday may have buoyed his own political future, but it did nothing to help the political futures of traders banking on the former NC senator's place on the 2008 ticket. By quickly slamming the door on a VP run in the full court press that followed his endorsement, Edwards sent shares of his VP stock on Intrade plummeting 7.5 cents on the day.

Asked by Matt Lauer on the Today Show this morning whether he'd be Barack Obama's vice presidential pick, Edwards dismissed the possibility. "No, won't happen," he said. Pressed by Lauer to categorically deny any chance of a 2004 replay, Edwards was happy to oblige. "It's just not something I'm interested in," he said. See the full clip below.

Bottom Line: Holding Edwards stock at this stage is even more futile than hoarding Hillary's. Put your money on Clinton for VP a(t least in the short run, until the press coverage reaches a crescendo), or take a look at The National Journal's speculation and pick a favorite.

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