Probably a little profit taking.. from $10.45 to this.. and I would imagine people are wondering if this is a good deal or just a bunch of sh*tty Household Finance garbage loans.. They need to clarify what they got and paid.. because paying $3.2 bil for $3.4 bil worth of consumer debt seems ridiculously high.. hopefully they will at some point
Did you read the press release? It says they are purchasing up to 50% of loans with a face value of 4.2 billion for up to 50% of 3.2 billion. I would go with the press release and not what some analyst is writing.
I own 11 different REITs and save for one up .02 and another up .22 (on great numbers) EVERYTHING was down, and most down significantly. I agree it's all profit taking after a very nice couple of weeks run in the sector.