NFI: NOVASTAR FINANCIAL INC - 2/12/2007 2:12:04 PM ET Price *Change *% Change Bid [tick] Ask BxA Size Open Volume 15.64 -0.72 -4.40% 15.61 [+] 15.63 4 x 5 15.98 2,309,607
take a look at NEW and LEND. nothing new. this was bound to happen sooner or later, would have shorted new, however the dividend was just too extreme for me.
http://biz.yahoo.com/ap/070221/novastar_financial_ahead_of_the_bell.html?.v=2 What's wrong with this picture? Analyst cuts target to 8 and has a "hold" rating on this stock. I would think that a 25% forecasted drop from after hours last warrants a "sell" rating or, better yet, a "get the hell out of this stock as fast as possible" rating.
If these stocks get down to a dollar a share or so, I may gamble on them and as a speculative play. They would either go bankrupt at that point, or turn around at some point in the future after the housing market truly bottoms out (who the hell knows when that will be - maybe 2012 at this rate).