HIG now owes the federal gov $3.5 Billion, which HIG will never be able to pay back. Has diluted share holders by 40%. Their assets are worthless. Only on paper lies they look good, but in the real world their worthless. Fair value for this worthless company is $5.00 and that’s being nice. Short 20 thousand shares at $19.79. Easy money to $12.00 with in a week.
Monday is 3rd push for over 20.00. Volume surged at two locations last week. Nice recovery at close on friday. Market is worrying about stock over valuation. Hig is far from over valued. It a good buy. Need some good news from company or a up grade on valuation? Or a new CEO that people like.
HIG trades at less than 5 times forward earnings. Their earnings power is enormous especially in the wake of an economic recovery. Go ahead and short this, you may get a couple of points if the tape turns down next week, but $12 would be extremely greedy. This will see 30 before 12 so you had better have an exit strategy unless you want to owe your broker more than what is in your account.