investors think? Or, maybe they never heard there's something called the "Securities Exchange Acts"?
What about this part of the July 7 Press Release:
"Our portfolios are basically now clean, especially for the larger credits,"
that's pretty strong positive language, isn't it?
How can you say that and at the same time announce that the "Bank executed a Prompt Corrective Action Directive (the "Directive"), effective July 1, 2011," ... meaning the Federal Reserve says our bank is "critically undercapitalized?"
"Either a lot better than investors think? Or, maybe they never heard there's something called the "Securities Exchange Acts"?"
LET ME GUESS:
they never heard there's something called the "Securities Exchange Acts."
There is pending litigation. Prior to the takeover, the stock was reflecting a book value
of about 4.00 dollars. Someone either bought out the company for less than value, or the
value was not as stated. If so, someone provided misinformation, and is to be held
Interesting point ... it keeps trading at .01 because short sellers have to cover. Fact they are still trading shares shows you how much short interest there was.
BUT ... knowing those long guys in Ohio, they are probably still buying at .01 because they think it's a great buy at .01. It's happened before ... longs buy a busted stock without realizing it's worthless ... that's why they change the ticker symbol to CWBS.PK ... so you should realize it's busted. Sometimes they change it completely ... like with GM after it busted ... so many people were buying without realizing it was worthless, they had to change it completely.
yeah, not a lot of posts though. I assume this stock is worth 0/zero now and there is no way to sell it? I guess you could buy the whole CWBS for $2,500? Wonder if they have anything left or the FDIC seized every single thing? If not-any value-the holding company mostly consisted of the bank but was there anything not considered "the bank"?
just wondering....any insight would be greatly appreciated.