I am so happy I closed out my position some time back near $4 a share. I made some money. I got into this LOSER when it was HYPED Hans Schultz on CNBC. Fortunately, I made a few bucks and captured several dividends. I sold because of the
failure of this LOSER to appreciate. Sorry for you people still in this LOSER. If and when it does release a financial report (it hasn't since the third quarter of last year) the dividend will probably be $ 0.00. CIM IS A LOSER!
So, what happened to the CIM rally?
The yearly reports all the pumpers were waiting for are in..
Where are the millions of investors that were supposed to jump and buy into this scam?
hint: There are no buyers.
Most of the rally came from shorts covering.
What is it about this security that people cannot understand? It is a mReit. They ar not designed to appreciate. It pays out 90% of its revenue in dividend. Are we happy with the losses, no. But I'll sit tight earning a healthy dividend as long as they are paying it. And when they release reports it'll go back up eventually. Housing prices are rising and interest rates low through 2013.
Day traders like you get what you deserve.....
Alec, this is an mReit. They don't own houses - just agencies and non-agencies. I own other mReits that don't have losses and reporting issues with their mbs portfolios. Why is the company an exception? This stock will stop falling when it stops losing book value and stops cutting dividends. Merrill's coverage is now "under review" which might be a possible explanation for last week's volume. Based on their estimates for 2013 I hypothisized the value at around $1.75/sh. All that can change if management can stabilize everything and peform in-line with other mReits. Until then it looks like a crap shoot with day-trading swings.