no the MM maker just need to sell 100k@ around 10 for institutional buyers-to sell to their peeps-going back up better hurry before its too late
Not touching it man. I'm a buyer where I had it at 6 and change but probably never again. If I bought this stock higher from where I had it, guaranteed it goes down. I could give hundred's of examples. GL, hope it goes and stays in double digits. It has been getting public media attention so that will attract fresh buyers. I think a Fast Money guy reccomended it last week.
Might be a good short after they pay out all the 2006 divvies. Didn't they announce that they might not have any more profit until 2010?
Taxable income, not profits under GAAP: KANSAS CITY, Mo.--(BUSINESS WIRE)--Feb. 21, 2007--NovaStar Financial, Inc. (NYSE: NFI), a residential lender and mortgage portfolio manager, today responded to misstatements in the media regarding the company's expectations for taxable income in the future. Some reports erroneously stated that the company does not expect to be profitable in the period of 2007 to 2011. Scott Hartman, Chief Executive Officer, commented: "Some news stories mistakenly assert that NovaStar does not expect to report profits the next several years. In our earnings release and conference call on Tuesday, we stated that we expect to recognize little, if any, taxable income during the period 2007 through 2011. Taxable income involves a calculation for tax returns filed under the IRS requirements for Real Estate Investment Trusts. This figure differs significantly from net income under General Accepted Accounting Principles, known as GAAP earnings. "Our belief is that NovaStar generally will be profitable on a GAAP basis over the next several years, as it was in 2006.
pre market is higher than close -stock is following same pattern stair stepping upwards not much resistance after mid tens until *****************$15.75*********************** and did i add that they are technically not a reit anylonger and the book value is $14. and change???????????
So did you dump this? It really shit the bed. Didn't think it would dump that fast into low 7's. Don't know if I want to make another play on it or maybe IMH. Both beat down pretty bad in the past week. Or are they going the route of NEW Century?
Paper trading is dangerous. You can't lose your money , which you dont have anyway, but you will lose your will to live.