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Prospect Capital Corporation Message Board

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  • harvey_therabbit harvey_therabbit Nov 9, 2012 4:31 PM Flag

    What are you so afraid of?

    Everything seems in line for this stock to rise. Great earnings. dividend hikes. strong management.

    I feel like I'm missing something when it continues dropping. Is there something I am not getting?

    Is it just because this is a BDC?

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    • I was surprised to see it drops today after seeing its great earning reports. Somebody mentioned that it was because of the 35M new shares they just issued at 10.97. I agreed. Demand vs supply, when all of a sudden there was an additional 35M shares came to the market, it would pull down the stock price. Of course, the recent market downturn especially the DOW dropping 300+ point on the day after the election was no help either. I believe now since President Obama had scheduled to meet with leaders of both parties next week to find a solution for the fiscal cliff especially his attempting to extend the BUSH tax cuts for the middle class before the end of this year, the stock market may temporarily rise next week, therefore, if PSEC rises high enough for you to sell, you may want to do so because I do not believe both parties would come to an agreement on the extension of the tax cut by the end of this year and the market will tank again. You would then be able to buy PSEC back. Of course, my timing is not always that great. I will buy more PSEC if it drops below 10.40 and will sell it if it rises above 10.80 for the next week or two. If I get stuck, then I just enjoy its 11+% yield, no great loss. GL. Jade

      Sentiment: Buy

    • I think PSEC is going down due to a fear of a slowing economy/financial cliff which would hurt PSEC's earnings.

    • A lot of new shares must be absorbed. Some folks did sell because they purchased on the hope dividends would be raised substantially. If the maeket makers can get 10.97 shares for 10.30 truste they walk it there. The sellers will dry and the mms will qalk it right back to nav it will be quick. Once there we will resume a low beta and likely trade to the plus side of NAV

      Sentiment: Strong Buy

    • there was an election

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