because motley the dummy gave it a good review. haven't you caught on that when motley recommends a stock it tanks but when it downgrades a stock it goes much higher. i think most people in the market that
motely is good only because they know nothing and people do the opposite when motley the dummy speaks.
I'm surprised at the continued weakness in CIM, especially while other mREITs are recovering. That suggests negative, company-specific investment decisions likely concerning the potential for delisting on March 15. I'd be surprised if the holders of more than 5% each, who are considered insiders anyway, aren't meeting with management to force the restatements to be issued. Although trading on the pink sheets doesn't change the inherent value of the company, it will severely damage the stock price.
I want to add the following. Cooperman bought enough stock to be just above the 5% level in which he becomes an insider. It seems likely that his strategy was to take an active roll in resolution of the restatement crisis.
I have to say, I don't know if I would invest in a stock just because a few other wealthy investors did...and, since there is no new information out there about CIM, other than they have filed for another extension, it would make sense to me that the fluctuations in the market are simply speculation based, and perhaps people buying and selling based on what other's are doing...
Sure Coopermans had losers,think whole market is watching US Government & how they deal with Budget Sequesture issue's, also when they didn't report some took their profits & left, Oils taking a hit also!