The reason? People took profits. It's the old "buy on the rumors, sell on the news" action that is so common. I've more than doubled my $$ and expect to double again before I sell. I listened to the conference call and I'm impressed. The only thing that will hold SPF back is possible economic collapse put in place by the current administration. If they succeed in damaging the economy as it appears is their goal (in order to build bigger government and get more people dependent on it), housing sales will stall and everyone will be affected. If the economy holds its own for 2013, no company in the homebuilding business is better positioned to take advantage and grow profitably. SPF had been buying land at bargain basement prices which will accrue to a growing gross margin over the next couple of years so long as the housing recovery continues. Look for the next runup to surpass nine dollars a share. Those who acquire more shares at less than $8 will look like investing geniuses eighteen months from now.
easy.. short sellers took it down... great results... at first volume to the downside.. then during the day that reversed.. but after hours.. big buys at well over the ask... institutions came in and gobbled up the shares that individual investors sold not understanding .. I kept adding as I saw this.. so a big buy of 25,000 shares ah (not the exact number ) at lets say 8.40 with an ask of 8.10 so I bought 99 shares a few times at that so as not to affect the last price and bring it down.. you need to buy more this is the best home builder... if a market correction it will suffer also so I decided to hold thru a 3 % or so correction just to make sure I had my shares