Obviously someone wanted to unload some shares today, hence today's little pump (which came from Wall St, not directly from FMD). <b>This is your opportunity to sell!</b> I suggest dumping all you've got tomorrow- You may even get a bit more than $4.25. My last comment on this stock was dead on- I expect this one to be no less accurate...
I completely agree. FBR loaded millions low 3's, pumped the news Thursday morning and dumped. Maybe a follow through over $4 Friday to dump. Bagholders and original OP who loaded at $5, time to cut losses. But I may be wrong. Still GS Capital partners is an ace in the hole to pump money in but that has to come sooner than later before the give back. Long term the student loan best play is SLM and has continued to climb. Too late to get on the bandwagon IMHO so wait for a pullback(it did at 19.50 early in the week). They will make out like bandits how the new student loan passing benefits them the most(NOT PRIVATE). I call Bullshit on anyone actually following up to buy their business in the future. In my experience, mergers and Aquisitions aren't telegraphed to the public before they ACTUALLY happen so don't wait to sell the news. Tell that to SIRI bagholders.
LOL, you couldn't pay me to play that dogshit stock. But, one of these days, that elusive merger may actually happen, maybe another year for $3 when its at $2.
Looks like no fresh meet buying in PM near $4. I will keep an eye on it again. FWIW, I contacted their IR in Lee Jacobson and I asked about the situation with GS partners and legal deal with their Dec. deal. All I got was "it's top priority" currently. I said force them into a corner or you will be destroyed with all the lawsuits.
Its time to PILE into FMD's competition which is UNCL. The truth is that FMD isnt going to have any money to lend anyone and the competition, which has very conservatively underwritten loans, will benefit. Soon the small cap UNCL will go higher in price then its formidable competitor FMD.