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Hovnanian Enterprises Inc. Message Board

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  • drugsman12 drugsman12 Apr 25, 2010 5:55 PM Flag

    (HOV) irrational Exuberance= DotCom Home Builder

    Anything over $2 is really lucky for shoreholders. I was trying to short this in $4's last year but just gave up interest. Now i reshorted alot at $7's friday.

    The book value is negative and this stock isn't even allowed to pay a dividend on its preferred stock.

    How in the world could this possibly trade $7. If it had low debt maybe it would have a chance to rebuild book value in a 2012 housing boom from the current -1.50 to the $3-4 range if everything went PERFECT.

    But with 1.7 billion in debt and interest payments alone that eat up over $100mm a year. There is no way this company can have earnings to rebuild equity.

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