Here's the other "reason" why NYMT is hitting the $7.59 wall and bouncing off
The co was in the midst of unloading its secondary offering at $7.59--which means, that number has been addressed couple three times and washed out. Now there's that secondary offering reason why that number would wash out, but the technical traders see three or four times your out, consider that a top, and dump.
Don't even try to make sense of what Louis Ruykeyser used to call "the elves" or technical trading, suffice it to say I think they are working false signals, and driving the rest of the cattle over the edge.
Fine with me, I have a dose of cash ready to deploy mid week, and if this fiasco continues, will double down, and double down again.
The problem with this company is that they either cannot or refuse to raise the dividend as they merrily dilute the shareholders and increase their own compensation. They can pay themselves more when they pay the rest of us more. Right bow their increased pay is coning out of our pay.