Slightly oversold now in USA (7.07) and in Madrid (6.56 eu = 7.01 U$D).
Targeting to buy around 6.7-6.8 U$D sometime this week.
How could it go less than book value? Easy. Market selling hysteria. Believe it or not many investors don't look at book value when buying or selling a stock. You do, but you ar enot like many investors. Many traders/investors (Me sometimes) buy on perception and current events. PPS today down for SAN and the rest of the market. I am a buyer here...somewhere..not sure. At a 52 week low I would nibble. Luck to all.
Let's see if it hits the 52 week low. That's approximately book value (and probably a great place to buy more).
What's your case for it being worth less than book value, Mikey?
2.65% mature 2020, gave you the website. Yes poor choice of words, they did add debt which affects book value and share price. Reason for todays drop.
Bonds don't dilute common stock, but I'm happy to see they're making progress in recapitalizing the US division. What was the yield?
PPS drops to approaching new lows. Something amiss. Blood in the water, the shorts move in for a killing. Next week, maybe it all goes into abyss. Ominous silence at SAN. Take profits. Longs, may God have mercy on your portfolio.