It is very critical that this piggy hold above $3. If it falls below $3 all these money losing institutions will run for the exit. I would not be surprised to see it at $1 by the end of the year. At the very least they can offset some gains with this loser. Tax selling is normally done in late fall. I wonder if the piggy will still be in business then?
$3 or any other price doesn't matter-your comments are very bearish and lack any specifics. On the other hand, MRN is profitable, cahflow positive and interest expense will continue to fall as debt is paid down-the specifics are a positive use of leverage.