I was offered the stock at $3.25 and would not take it (but was restricted on the stock while the offering was still outstanding). Management was trying to raise north of $100mm and only had $50mm spoken for BELOW 3
Management was told 2 months ago that they needed to present a plan of capital adequacy by September (before the next quarter), otherwise it will go into the basket of troubled thrifts. The takeover of CNB by BBT is all the proof you need of where HMPR is headed.
I have no position in the stock - but if i was a long - and there is any kind of short squeeze (10% of the float is short), I would thank my lucky stars and sell as much as I could at $4
Not flaming - see you all in a month - or view my other posts - CPF was similar and you see where that one is headed - trades like this are easy one - if the stock is up tomorrow I am calling my broker to try and short every share possible
Good luck to all - hope these words of wisdom can save you a few painful dollars a month from now