I jumped in 2 weeks ago thinking the new FICO will help FIC get to a better and more competitive position. And this thing is quite cheap.
I guess either those 7% short are stronger than any rationality or the market punishes FIC for this subslime mess. Or maybe everyone won't get any loan for a long long time; hence no need for FICO existence.
Note that FICO is reponsible for approx 20% of the rev, and the drop from 40 to 31 in a hurry represents 29% drop already.... Something is fishy... Sandell can't even figure it out... btw, Sandell turnover rate is high for FIC.. not sure if they are net short FIC...
At some point, FIC becomes a buy. I figure, MAYBE, 30. At another point it becomes a bargain, say mid-20s. No matter how f***ed the company is, I can't see the share price heading below 24-25. Can you? But I can easily see a price not too far from there.