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Standard Pacific Corp. Message Board

  • buy_side buy_side Jan 29, 1999 7:32 PM Flag

    Look to FRTG for value in this sector

    I think SPF will offer only modest upside during
    next six months. Take a look at FRTG, this home
    builder has a P/E around 4 and will be announcing record
    closings and revenue in less than six weeks. Stock has
    dropped significantly during last 6 months as a result of
    several original insiders liquidating their positions. Is
    there better value out there in this sector?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Spammer buyside says FRTG is a good
      value.

      Don't empty your wallet yet. FRTG has a death-spiral
      financing arrangement with its lender Prometheus. FRTG gave
      them warrants which gives Prometheus an increasing
      share of the company as the price goes down. Thus, a
      lower share price leads to more dilution, which leads
      to a lower share price etc etc until nothing but a
      black hole remains.

 
SPF
8.05-0.06(-0.74%)Apr 17 4:00 PMEDT

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