TAXI MEDALLION PRICES STARTING TO CRUMBLE, BEWARE!!!!
The huge rise in the price of nyc yellow cab medallions over the past decade or so has stopped and as a result of the city flooding the streets with green cabs and uber, the price of mini fleets is starting a severe drop in my opinion....a mini fleet, was trading at about 2.5 mil just a couple of months ago now bid 1.5m ask 1.8 mil.
trees don't grow to the sky and prices will come back down to earth which is not good for taxi.
hang on, this roller coaster is going doooooownnnnnnnnnnnnnn!
Dumb comment. No proof. Recent auction showed medallion prices at new highs so your statement is just plainly false. "Tree growing to the sky..." comment is inane; the stock price is nowhere near highs -- in fact, it is very close to yearly lows so it has plenty of room for recovery. So what if the price of medallions has stopped increasing or even drops a bit? TAXI loans are less than 40% of the value of the medallions it has for collateral so the taxi business may change a bit (or hardly at all in NYC due regulations and tight supply), but that doesn't change TAXI's expected flat to slightly lower earnings which are plenty to cover its recently raised dividend. The yield alone will support TAXI stock price at these levels. If you are crazy enough to sell short and have to pay out the over 8% annual yield, please do so and join the crowd in the short squeeze when you have to cover. Or are your already short and panicking as TAXI slowly and steadily rebounds over the past two days in a down market?