I don't KNOW whether this stock is currently a bargain or not. I bailed at $12.75 -- at a substantial loss -- for one reason. Management screwed us all once.
It's a matter of: "Screw me once, shame on you. Screw me twice, shame on me".
Or, to put the same operating principle in other terms, when you lie down with dogs you must expect to get fleas.
Why are there (at least) two cliches to describe this same situation? Because people have learned, usually painfully, that you cannot win when doing business with the disreputable.
With no ill will toward any current shareholders, I am hoping that the lawsuit prevails. I don't expect to see anything out of it, but if it brings down management, fine. (I'd love to see the lying, money-shuffling bastard in one of his own prisons -- if, of course, the allegations are true. [Gotta cover my butt.])
My two cents: Take the loss and move on. Adhering to the principle of refusing to play with a fixed deck will save you more money than a possible turnaround in PZN will deliver.
Finally, NEVER own a stock just because of its dividend. A small reduction in the stock's price can obliterate the dividend and more.
All this, of course, is opinion. The allegations in the lawsuit may be unfounded. (But they surer than hell LOOK familiar to this guy.)
Not whining,just stating facts.I watched the stock and this board for a long time before i ever wrote the first line,i did a lot of home work and listen to a lot of public opinion.This country is not ready for this kind of punishment for convicted fellons.public opinion will go a long way when the elected officals start seeking reelection.the courts also are not sure of the ideal of private prisons.I think the big fight still lies within the federal court system.
bailed out and suffered a loss,Ialso know i couled have had a bigger loss or I felt I would if i stayed in.mat be wrong they may come back stronger than ever,but i dont think so,looking at there operations within the department of correction,problems they are having,all the bad p.r I dont think there will be a recovery.I hope im wrong because of there are still a lot of people with a lot riding on the company.