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Corrections Corporation of America Message Board

  • joepalookaboggs joepalookaboggs Oct 14, 2000 4:38 PM Flag

    Re: Why is this stock moving down 1/16

    I don't think the issue is trust anymore -- that
    was squeezed out long ago. What I think you have here
    is a stock price in a lousy market, and nobody knows
    what its value is, or what is coming next. It is
    behaving like a penny stock that has lost its following.
    IMO, nobody would be surprised to see management do
    something else strange, like change the terms of conversion
    for the pfd. B, or announce a reverse split (usually
    means you'll have fewer shares but the stock gets
    cheaper anyway -- tends to be a desperation measure). Too
    many other stocks that have value, CXW has to compete
    for that money. Now if they suddenly got a BIG
    contract...but that would surprise everybody. The time they got
    the last FBOP contract, there was a couple of days
    before the stock came to life. It was good for a 60%
    move and I got some of my money back. I continue to
    read this board just in case. Good luck to all
    long-suffering PZN (oops, cxw) holders (except Doc and Junior,
    they aren't among the suffering). Live long and
    prosper.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • ...so Fergie said that he making the right
      decisions...to correct bad decisions and
      ...LACK OF
      INTEGRITY. Well he, the Ferg, can start with me and correct
      an injustice that was done to me and he knows damn
      well what it is. He, the Ferg, reads these posts - all
      of 'em - so Fergie my man, put your action where you
      mouth is. You know what you have to do and we will see
      if "the integrity issue is solved..."

      Talk
      is cheap. - Sparks

    • Bat,
      Sorry but this is the right business at
      the right time. You could say it was the wrong mgmt
      over the past few years that has brought us to where
      we are. The cleanup is process. I believe the first
      post-merger earnings report will be a positive & will at the
      least put this stock at 2x current price,
      IMHO.

      One thing is for certain, CCA & others, will be here
      ten years from now building & managing prisons. There
      will be earnings & value for the investor.

    • M&M needs to go to 1/32, news if any and a lot of
      money. None will happen. I see privatization and the
      insiders taking whats left. This is the last post I will
      make. Happy Holidays it's over. Good Luck Flipper This
      company had a vision at the wrong time.......The
      Bat><

    • Great response!!!
      I totally agree.
      Time is our solution, plus integrity, and luck is required, too.

    • Would have to disagree with you. I think the
      company will make it. At the stockholders meeting, Ferg
      said that the company will not seek bk protection and
      will do everything possible to make it. He is already
      making the right decisions. Yes it's a big project. We
      didn't get in this mess overnight and we won't get out
      overnight. We are here because of several bad descisions,
      some lack of integrity, and some bad luck.
      I
      believe the integrity issue is solved. I see many more
      good moves than bad as to luck... that will
      undoubtedly play a part too.

      But I believe we will
      make it. Everytime we undo a mistake ( from the old
      leadership) we get that much closer.

    • If CXW is to fail you've highlighted all the important reasons. Very astute post.

    • Yes, it would appear that there is no more oxygen
      in this stock; that the life has been stomped out.
      The beneficiaries of this event will out in time. But
      the loss of this board's vigor is a wider loss, as
      many have long followed its windings.

 
CXW
35.76-0.03(-0.08%)Aug 26 4:01 PMEDT

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