When you sell 100 or 200 shares and there are no buyers you drive the share price down like today. There is no bad news. We already know that mortgages are slowing and that is already priced in. Don't let the long term investors , like me buy your shares cheap!
That's Ugly's plan. He knows he missed the golden opportunity to buy when Crunchy and Corvette did, at prices well under a dollar (under $10 post-reverse-split)., so he's trying as hard as he can, with a very limited amount of time to buy his odd-lot shares at the lowest price he can.
Yes 15 is cheap but I guess then 13 would be cheaper?
At the pace we are on we should be at 13 by Wednesday night.
With or without 2 + billion in cash and 266 million in TARP paying 9 percent interest.
I guess if you can't make a profit and Mr & Mrs regulators says no biz just cash..What can you do?