Remember ELN? Crashed from 30 to 3; now trades at 12 http://finance.yahoo.com/q/bc?s=ELN&t=5y&l=on&z=m&q=l&c= NEW is Def a buy but load up slowly while the dust settles. May go to $2 but it will be a steal the company has 7000 employess and massive assests. NEW wont go away. Within a year this will trade around $8-15
NEW CENTURY FINSNCIAL CORP Symbol NEW Investor Notice: KGS Announces Investigation on Behalf of Purchasers of New Century Financial Corp. Preferred Stock 2007-03-10 16:03 ET - News Release NEW ORLEANS, March 10, 2007 (PRIME NEWSWIRE) -- Kahn Gauthier Swick, LLC announces that it has commenced an investigation into New Century Financial Corp. ("New Century" or the "Company") to determine whether it has violated federal securities laws by selling Preferred Stock pursuant to materially false and misleading prospectuses in or about June 2005 ($116.79 million offering of Series A Preferred Stock) and August 2006 ($62.85 million offering of Series B Preferred Stock) (NYSE:NEW-PA) (NYSE:NEW-PB). On February 7, 2007, New Century announced that it will have to restate its previously reported financial results to correct errors related to its application of generally accepted accounting principles, necessary for reporting allowances for loan repurchase losses. On this news, New Century's Preferred shares declined precipitously. Later, on March 2, 2007, New Century also disclosed that the U.S. Attorney's Office for the Central District of California had notified the Company that it is conducting a criminal inquiry in connection with trading in New Century's stock, and its accounting. The following trading day, New Century's Preferred Shares again declined. If you would like to discuss your legal rights as a Preferred shareholder, you may e-mail or call KGS, without obligation or cost to you. You may contact Managing Partner Lewis Kahn of KGS direct, toll free 1-866-467-1400, ext. 100, or by email at lewis.kahn@kgscounsel.com. KGS focuses its practice on securities fraud litigation, and the firm's lawyers have significant experience working on securities fraud cases that have resulted in significant recoveries for shareholders. For more information on KGS, please visit www.kgscounsel.com. CONTACT: Kahn Gauthier Swick, LLC Lewis Kahn 1-866-467-1400, Ext. 100 lewis.kahn@kgscounsel.com __________________ Please, I'm not a daytrader, I'm an "Intraday Liquidity Provider" 1-888-TRADEUP
Word has it that New Century will be back to âbusiness as usualâ early next week. Apparently they are in the process of being acquired by a big name institution. Morgan Stanley was mentioned as a front runner. No new apps until the deal is finalized. Could be as early as Monday/Tuesday.
If you're going to buy it, wait for it to start going up... don't try to fish for bottoms here... it might get ugly... I wouldn't touch it with a stick...
Small banks and S&Ls are being hit by this too. Last week I counted 92 of them made a new 52 week low. These are the symbols, I cut them from my word processor and I don't know how to quickly format it to keep this from being a large post window, but here they are: ABCW ABVA AF ALLB AMNB AROW AWBC BBX BKOR BKUNA BRBI BRKL BTFG CATY CCOW CFHI CFR CHFC CJBK CLFC CMTY CORS CSFL CVBF DCOM FBC FBMI FCF FFIC FINB FMAR FMT FPFC FPTB FRBK FSNM FULT GBTB GLK HBAN HBHC HNBC IBCP JFBI KNBT LBBB LXBK MBHI MCBC MSFG NDE NPBC NTBK NWFI OAKF OCFC ONB OPOF OSBC OSKY OZRK PBKS PEBO PFB PFS PMBC PRK PROV PRWT PVTB RCBK RIVR RNST SAL SASR SBKC TOFC TONE TRMK TRST UBSH UCFC UNTY UVSP WFBC WFD WHI WIBC WM WTBA WTFC WTNY
wait for it to go to the pinks sheets and bottom out then buy on the restructuring plan There will be an opportunity for a five bagger if you time your trde right. Wait for it to go lower since the selling isnt done yet.
It's a five bagger from here if the company survives. If it goes to pinksheets, likely a BK...the equity holders wiped out, and those holding the debt will profit from the restructuring plan.