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BGC Partners, Inc. Message Board

  • jeffj257 jeffj257 Aug 27, 2012 10:29 AM Flag

    This doesnt look good

    The stock this morning hit a fresh 2 year low today. Everyday if the stock market goes up or down, this stock ends lower.. When i call investor relations ..he says that some funds could be selling cause its under 5 .I understand some funds cant buy stocks under 5 but plenty of funds can. He says that they dont make comments on thier stock unless they have news, so i asked him what was the news when he went on cramers show? Its now yielding 15 percent with no buyers..something really stinks. This might be the highest yielding stock on any exchange in north america and its working its way to 0

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    • Just like a lot of other stocks that drop way too far for no "apparent" reason, this is one to buy as the price drops. I just bought even more this morning at 4.50. I have a personal bottom at 3.88, where I will be buying a large amount. If it goes below that, I not only would be surprised, I will be redistributing other funds for buying even more. The lower it goes, the more shares you can buy. As others have said, this one can rebound fast. This stock can "wallow around" for some time and is not for the impatient. Buying more when it drops, lowers your cost average. If your cost average is below 7.00 a share, you will be rewarded. Mine is now 4.70. Look for Lutnik to come out and say anything reassuring or positive, like their real estate business is doing way better than expected and/or the dividend is completely safe. If a jump occurs, the short squeeze on this will be amazing and could pop above 10. Then again you could do what most nervous investors do and sell -- so I can buy more. :)

      Sentiment: Strong Buy

    • This is one of my spec stocks along with ARCO. My commitment to it is long term, so daily drops don't bother me all that much.

      Sentiment: Buy

    • be patient. when it rallies, it will be super fast. Everyone knows its undervalued. even recent buys by insider is huge ( not a small amount). People are discounting that BGCP business is diverse and they also an electronic exchagne ELX

    • All big div stocks are taking a hit. Sounds like a buying opportunity. Being paid 15% to wait sound good to me.

      • 1 Reply to looking_for_gains
      • Obviously, the mkt expects a dividend cut coming, but BGCP has essentially said that the 17 cent divvy will be paid at least one more quarter. ALSO interestingly, going back historically post Crash, the lowest recent quarterly dividend with the exception of March '09 was paid March '10 at 6 cents and at that time, the share price was near 6. However, it had bottomed out going into that payment at around 3.75. So either Mr. Mkt thinks BGCP's move into commercial real estate is a bad one, or they expect the dividend to be practically cut in half and stay at that level for an extended period of time.... Either way the market seems to be voting no confidence in BGCP right now...

7.84+0.02(+0.26%)Jul 29 4:00 PMEDT

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