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Corrections Corporation of America Message Board

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  • guywithbaldspot guywithbaldspot Dec 7, 1999 6:01 AM Flag

    Blood in the Street

    Just curious, would you buy more PZN at its current price if you could?

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    • I will not qualify this in any way but I believe
      a deal is coming and will be 5 times the minimum
      amount. Also hear that 1/2 money goes to pay dividends
      and the other to grow company. Will not be a REIT
      in'00.

    • Honestly, that's a tough call. I bought 500 sh at
      $10 so I am somewhat reluctant to go in for more even
      though it would average my price down some. There are
      some positive signs with PZN in that they have grown
      their bed capacity and seem to be winning more state
      contracts. I think alot of these contracts are for 5 to 10
      years which should add stability. Since there isn't
      alot of daily news about PZN, I don't see why they are
      taking such a beating. Alot of this news was known a few
      weeks ago when it was still around $10/sh. Maybe some
      people are selling for year end tax loss and there is
      some uncertainty about the dividend payout.

      • 1 Reply to iggy_75075
      • I'm in a somewhat similar position as you, except
        I had bought some shares at 17 and change, 15 and
        change, and then again at 13 and change (obviously I LOVE
        the idea of averaging my price down). I then got an
        additional 500 shares at 10 and change, which doubled the
        total # of shares I had up to that point.

        I'm
        investing for the long term and still believe in PZN, but
        you have to start wondering when you get to new 52
        week low territory. I'd love to go ahead and buy some
        more now that the price has dipped again, but what you
        said about the stock getting beaten up lately, despite
        no new news is a good point. Hopefully you're right
        about the year end tax loss sell off and 2000 will
        bring us back.

 
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