Nationwide Financial NFS about to take the big dump

Discussion in 'Stocks' started by Port1385, Nov 1, 2008.

  1. I saw heavy sell volume and options activity these last few days. The parent company said it would buy the shares at 52 dollars, but that was a while back. Stock now trading at 46 dollars.

    I saw the earnings call is right after election day which may be well timed. When you deliver bad news, you want the hoopla of the election to dilute it.

    I have a feeling that NFS is going to be cut in half fairly soon when the doors to conference room are opened and the bad news is vented out to the public.
  2. MattF


    On Your Side indeed

  3. There is no way this deal is going to go through. A few months back they announced the $52 share repurchase BEFORE the insurance industry tanked. Nationwide is hurting for cash at this point and not in a position to pay 52. NFS isnt worth 52 anymore...probably more like 20 per share if that.

    I expect on November 5th for the stock to be tanking down into the 20s to follow The Hartford and Metlife. The Hartford will probably go out of business.