I opened a position with WY 2 months ago. saw good things which would seem to equate to good earnings and hence, a rise to share prices. ok. good quarter and stock plummets. can anyone help me understand why? I don't get it.
Same reason that it's up 1% this morning? I see no good reasons for the swings, and the sell off yesterday suprised me also. I'm not that concerned because I'm long in this stock and the average cost of my holdings is below $21, making the dividend return about 4% on my investment. Hopefully, the economy will get over the jitters, housing will continue to improve, and the price and dividends will continue to increase.
I appreciate everyone's responses. looks like WY was pulled down by poor news in the housing industry. WY is least of my worries tho. got hit hard with poor BP earnings report. yesterday sold off partial holdings for PLOW and GNRC. both of those up big time today. I played wrong and am paying for it. WY has disappointed me to date but, based on their moves and earnings report, I will remain long. WY could even be seen as a Buy based on metrics. i just hate underperforming the DJI.
The rebuilding process is very slow along the NJ coast.Building permits,inspections and grant money is very slow to get to the homeowners.There is alot of empty lots that have been cleared and are ready to be built on.......like I said the process is SLOW. The main problem there is only a few companys that pound poles into the ground.All new housing must be raised or your insurance rates are crazy.