With over 2m shs traded today, it's no surprise that FBC is being heavily shorted.....the hedge funds are shorting ever share we buy.....just wait for the huge short-cover to 0.80; They short it down and buy it back up..... It will happen soon....FBC only bleed 71m this Q....big improvement.....it could of been much worse. The key element I see here is that FBC will survive....that's the key reason FBC trades at .64 - will FBC survive.....FBC should move up over a $1.00
i bought another 2k more today at .64 i'm now holding 14k shares at an average of .65 I sure hope this works out and they survive. Would this be a good long if we make it. Others seem to feel that it will be a very long road to 4 bucks. Go fbc is all I can say. Good luck to all of us. There are a lot of people in over 7 bucks so I hope the best for them also. Im chasing on three other stocks and its not fun
>> Would this be a good long if we make it. Others seem to feel that it will be a very long road to 4 bucks. <<
They'll have almost 4 BILLION shares outstanding. And I'll say it again. When times were GREAT a few years ago, the whole company was valued at less than $2 BILLION (that's the market cap...share price x outstanding). There is NO WAY THIS STOCK IS GOING THAT HIGH. They would have to double their size AND all the deals that crashed the banking industry would have to start up again.
Now if you're talking 1 for 10 reverse split...then sure.