Recent

% | $
Quotes you view appear here for quick access.

Corrections Corporation of America Message Board

  • dn_r_99 dn_r_99 Dec 9, 1999 5:35 PM Flag

    Does it make sense to buy before 12/15/

    The last buy for PZN was for 15000 shares and
    raised the share price by 1/8. It is also getting pretty
    late in the year for tax selling and it seems
    reasonable to believe that PZN will make some kind of
    annoucement by 12/15. Given these facts does it seem
    reasonable to any of you to purchase now, or do you think
    the stock will continue to decline indefinately? I
    would appreciate your input especially RP and
    NHY.
    Thanks

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • srry shd hv tld u ths bfr.

      lst sprng doc tld the wrdns tht th prce wld prbbly gp tp 4 smtm ths yr. bt th prce wld go bck up.

    • By buying now, you are trying to guess what is
      going to happen with the next announcement.

      I'd
      bet when the press release comes out, the price of
      PZN will rise or drop by $1.00 within minutes or, if
      done after hours which is most likely, on the next
      days open.

      So now... how you gonna bet? Red or
      Black?

      • 1 Reply to Need_High_Yield
      • NHY/RP- I have no idea what will happen to either
        PZN or its management, so I will wait. While I have
        your attention I would appreciate your view on several
        issues.
        1. Why is PZN building up in the near term
        despite occupancy problems? Is this long term thinking on
        the part of management to gain market share?
        2.
        What was their initial motivation for becoming a REIT?
        It seems to have created problems for them.
        3.
        Back in May they did not tell anyone about problems
        with CCA, which then became apparant in one of their
        reports. Was this delibrate or just accidental?
        4. It
        seems that they can help their business by delaying
        this year's divendends until next year, although this
        might depress the stock price. Is this your
        thinking?
        5. What to you think of Doc? Is he out of his league
        or is this a temporary set back for him? The views
        of this board are really mixed.
        6. Several
        analysts still rate PZN a strong buy. Do you take them
        seriously?
        Thanks

    • With the usual caveats...I'd be very cautious
      trying to out-think this situation. I agree that
      normally, especially over the past few years, the "January
      effect" has started happenning in December. While I don't
      have any feel for how low it could go this year, I
      don't believe it will start rising until there is a
      concrete announcement. Of course that assumes the
      announcement is positive. This is not a normal situation, even
      for a distressed stock. There are way too many
      unknowns out there.

      Through reinvestment of
      dividends at low prices, I probably lowered my cost basis
      to $19. Then I purchased more at $13.5 lowering my
      basis to about $16. I have the cash to lower my basis
      almost to the current price but I have not bought
      another share since the 13.5 and I'm honestly not even
      tempted. I was tempted at 9,8 and 7 but not now. I'm
      waiting this one out until the smoke clears.

      The
      way I'm looking at it now, if we get a positive
      announcement which pushes the stock up from where it is now to
      $8 or even $9 on a single day, what have you really
      missed by waiting? If the story turns out to be OK, $8
      or $9 will be a good entry point. On the other hand,
      I believe that if Doc doesn't make any announcement
      this year, we could easily be at $5.

      An earlier
      poster mentioned something that implied Doc might wait
      on an announcement to drive the stock lower so that
      management would get favorable pricing on options. Given
      what's transpired so far, I wouldn't put it past him at
      all.

      I suppose I'm in the camp that says Doc didn't
      intentionally create the mess we're in - he has too much to
      lose. But, he is human and like everyone else he's
      looking out for number #1 and #2(jr). Time will tell.

      • 3 Replies to RetiredPaperman
      • RP or anyone else,

        I know DRIP info has
        been posted on this board before, but I couldn't find
        it. Does anyone know exactly how you get
        started?

        Would I contact PZN or my broker about enrolling in a
        DRIP?

        Should I try PZN investor relations, or is no one
        getting any response from them about anything at this
        time?

        Thanks in advance for any info anyone can provide.

      • the message read "the group will get options
        based on the current price"...I did not mention that he
        was driving the price down on purpose...that would be
        to evil a conscious act for them to do...It really
        has more to do with..stupidity,bad
        timing,poormanagement,poor advisors,god complex and then theirs Jr. nuff
        said,I'm going to dinner!
        PS most of you folks are
        really terrif..sometimes it's like a good soap..every
        emotion from soup to nuts..although for most of us ,its
        to bad that WPZN is a comedy show.

      • RP-Thanks, I'll wait.

 
CXW
39.42-0.21(-0.53%)Apr 24 4:01 PMEDT