NYC mini fleets now bid 1.5 mil was 2.6 mil. NYC streets now clogged with criusing green cabs diminish value of yellow medallions....It's called "supply & demand" simple as that. Too many for hail cars in service, city overdid it this time. Driver incomes down, mean fewer drivers and idle yellow cabs.....ALL FLEET OPERATORS NOW COMPLAINING ABOUT LACK OF DRIVERS AND IDLE CABS...NO DRIVERS MEANS LOWER MINI FLEET CORP VALUES. TAXI IS ALL ABOUT NYC MEDALLION VALUE AND LOWER VALUE WILL MEAN CRASH IN TAXI STOCK. IT'S COMMON SENSE, NO AMOUNT OF SUGAR COATING ON THIS BOARD WILL CHANGE THE FACTS....BLOOMBERG FINALLY BROKE THE MEDALLION OWNER MONOPOLY AND TO ADD INSULT TO INJURY, THEN ALONG CAME UBER.
ask any broker or fleet operator.. No buyers at crazy $2.5 m price of corporations.....buyesr scared. sellers getting ready to panic....if I owned medallions, I'd be worried.....the higher they go the faster it'll fall. Panics are strange and scary, everybody wants out at the same time. Corporations will fall to $1 mill each. Not worth inflated prices anymore with flood of cabs on the streets.
Eagleeys is a desperate short. He has no clue as to what Medallion Financial's business is. Enjoy paying the 8% dividend and watching the stock rise (nice move so far from the bottom at 11.6 to 12.28)!!!!!!