From the Seeking Alpha article this morning (notice the 6-9 month time frame...we could see $8.00 or even $7.00/share before then):
One of my concerns is the amount of time that it will take to resolve these issues with the SEC. On the recent call when asked about a potential time frame the president responded with "We believe that the process will be about a month." This was quickly followed up by the CEO with "But we have emphasize we really don't know, we don't control these processes." Various professionals have weighed in on the timing issue and most agree that this could take 6 to 9 months and is a very involved process especially given that the next reporting period is a fiscal year end requiring more scrutiny than other quarters.
During this time frame PSEC will be more capital constrained than previous quarters, which could lead to lower amounts of originations, structuring fees and other income. If the stock continues to trade under its current net asset value ("NAV") per share this could be a longer term problem."
You dummy...its not an investigation by the SEC...they asked for some information...they'll probably get it done in short order. You're a clown. Get off this board if you're going to post lame stuff.
all talk, I bet you don't even have a single share shorted.
Put your money where you mouth is.
Seeking Alpha articles are written by individuals who have opinions and agendas.
There are plenty of articles telling how much of a bargain PSEC is.
You seemed to ignore them.
You're a clown, and I'll bet you have no credentials. Listen, if you buy a high yielder, you're going to get volatility. You buy a security like this for the monthly divy, if it goes down, so be it, you wait until it comes back to what you paid for it or higher to sell. it. Its that simple. Look at the chart, the thing is all over the place within a range.
Ignoring me is fine, and to be expected. I have many of the pumpers on ignore as well. FWIW (and it appears it is not worth much to most on this board), one week ago we were at $10.60 and we spiked down to $10.07, rose up again, and some were excited about picking up shares at $10.10. The very next day bled down to $10.10 and remained there until this morning. This morning we spiked down to $9.17, and closed the day down 2.4% at 9.81. Many are excited about picking up shares in the $9.20's, and that is good, but I think we'll have plenty of opportunities to pick up shares below $9.20 in the coming weeks. I am all for going long on PSEC, but am simply saying that, in my opinion, now is not the time to be long in PSEC. There are three strikes against it (Nick deal; SEC inquiry; Russell Index reconstitution) which are suppressing the price, and which promise to hold the price down, and lower it even farther, in the coming months. The share price itself, the tale of the tape, is telling a story all its own, yet some are refusing to listen to the tape tell its own story. Right now PSEC is extremely weak, and looking weaker; maybe that will change by year's end, but I am speaking about right now heading into June. Cheers all.