And with the after hours drop seems more like someone who is heavy shorted attempting to drive it back down instead of covering for a large loss. Burn them shorts hold your shares and force them to cover
Wouldn't that 200 mil have come from the capital they raised when they sold the preferr's last year? Believe it was 225,000 preferrs at 1G each. So in essence they reap a 20% profit minus any divy they have paid so far for those. Don't recall exact conversion but believe they paid 8.5% and could be converted to 37 or so commons if holder optioned to.
Anyway this stock has stong upside potential especially once the run on credit card debt max hits the big banks. WBS has no exposure to that. Still believe it posts a profit no later then 2qt 2009.