During times of market weakness utility stocks normally hold up well. They also do well when future interest rates are expected to not increase. With that said, Friday's large fall of EDE is odd. I admit the stock was not worth $25+ but to see it at $21 is strange. I can find no news to address the fall but obviously insiders know something. Any ideas out there?
Of course, of course. It's plain old manipulation by those with the big bucks who are super solidly invested and who want your and my bucks! It's called "the American Way"! It's orchestrated by "big bucks"!
IMO the earnings miss Friday combined with a really bad day in the markets led to a further decline in EDE. EDE was not alone, DUK and GXP and SO got hit too so it was a sector and whole market thing. EDE still has not hit the low that EDE went to in 2006, $20.44 on 7/6, so I am not concerned. For what it is worth, if I had more cash right now I would buy more EDE at this price. Bottom line, don't worry IMO.
Good info. We think alike since I too intend to buy more EDE at this price. I did notice it was up almost 3% after hours Friday so I will probably wait to see what happens after the opening bell. I like to buy EDE under $22 and sell over $24. Always like the dividend.