Yeah, Got out on Thursday around 7.24 average (just on the breakdown in price at the end). Stock fell some more on Friday. It was my worst trade of the year. I don't ever recall seeing a stock act in this way before. The PE is under 3 and the yield is over 16% which is just crazy. Also spent some time on the yahoo boards and it was almost as painful as the money loss reading the posts from those retards. I am still going to watch this one to see if I can learn something from how this one plays out. It would appear your watching it as well. What are your thoughts??
Just took a brief look and is it just me, or does this company round to the nearest million when reporting their balance sheet and income statement? Im seeing the same thing as you right? If this thing pops to 10, i will definately short it there.
When I turned this trade into an 'investment' I thought it was being overly beatup and it would pop higher and I would make a few bucks. The more I read into the stock the less I liked. Especially the price action. I have never seen a dog soooo tired. I think a dead cat would bounce higher than what we saw today and thats after the decline that bitch had. so in a nutshell I have to agree with you. I was thinking of shorting even today but I think its kinda dangerous at this level as it wouldnt even take a small breeze to put this at 8
After one week the new CEO steps down citing 'health reasons' PE is now is the 2.2 range. Nothing appears to be going for it trading in the 6.40 range
i told you my thoughts when you first got in the trade and you dismissed them. i said they were having trouble servicing their debt. when they got downgraded after their earnings that was the main reason for the downgrade to sell. i pay attention when an analyst downgrades a stock to sell since it is rare that someone has the balls to do it. the stock is clearly trading like a company that is having major financial issues. not sure why you haven't ever seen a stock act like this because there are tons of companies out there in similiar dire situations after the subprime blow up.
down another 17% today and closed near the low. To clarify, I have seen stocks fall and fall hard and fast. This is the only one that I was the 'proud' owner of....LOL At this rate the dividend if left intact will be higher than the share price.... I agree with you about the reluctance of an analyst downgrading a stock but I don't agree that they have had problems servicing their debt. Going forward I have no opinion but the debt is massive. As someone who has owned small businesses in the past and paid for yellow pages ads I don't see that media going away as quickly as I think the market has priced the stock. Doesnt make me a buyer again at this price level but if the stock gets crazy cheap I may take another look. Best of trading to you
where there's smoke there's fire. every buyer on the way down had brillant reasons for adding to enr, wcom, etc. why step in front of the freight train
RHD, the company that makes yellow page phone books, got slaughtered on earnings today as well. after watching IAR i wish i would have known that RHD made the phone books. i would have had no trouble buying some puts for a trade before earnings. oh well...live and learn.