It's approaching where it was 5 years ago. I saw the writing on the wall 6 years ago with many of these stocks and dumped them. The financial problems were obvious but denial had set in. I am looking at a lot of these former losers again.
Did it after last dividend as well. It did not drop as much going in, but was held down and once the dividend was paid the big boys added to their shares. I made the same bet this time that would happen again, so far spot on. Should move back above in the next couple of weeks or sooner
As I recall, last week something similar happened except in the downward direction. Just speculating but maybe something to do with end of quarter and beginning of quarter holdings for some big institutional investors? who knows.
Well, that's kind of old news regarding ResCap servicing rights. Plus, the news on that seems to be getting worse and worse so to speak. Now we got IBM and Ocwen butting in with a potential bid. Plus old man Buffett seems determined to get his way, and since he's a favored "elite" with the current power brokers in government, that is not good.