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Hovnanian Enterprises Inc. Message Board

  • gmjooz gmjooz Sep 14, 2009 12:02 PM Flag

    Flat lined for 10 days, MM crook


    amazing BS

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    • If you are long then you are lucky this is flat lined. This stock is one of the most bankrupt co's i can find outside of FNM and FRE.

      With Negative shareholder equity with another 18 tough months in homebuilding likely, this company has virtually no chance barring a sweatheart deal with the bond holders.

      • 1 Reply to drugsman12
      • Agree. Hovnanian is worthless. They have negative book value and cash is running out. They need a housing recovery to start today, rather than the 2-5 years it will likely take.

        I think KB Home is on the same path. They have blown away so much book value and if they keep losing money and taking write downs on their land holdings, they could be in negative book value territory as well by end 2010. They balance sheet deterioration for KBH looks eerily similar to HOV, only lagged by about 12 months or so. Yet the pumpers keep sening it up to 3 times premium over stronger home builders like Lennar and Toll...

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