I don't blame you. I am really bewildered by this. The last thing I would expect is that someone would go short the CA real estate market, or short a company like this in CA that's growing at over 200% year over year. The most recent statistical data for CA is practically feverish: NO SUPPLY; realtors begging home-builders to build more. Go figure.
TPH has 2100 lots; their communities have waiting lists (which they sell out quickly; and the price per home goes up a $1,000 every time you seem to blink); there is not an ounce of bad news on their horizon - no legacy issues - and yet the stock has fallen 25% in a month and keeps hitting new lows. Nothing matters at this point: management, their targeted markets, valuations, customer satisfaction, quality of homes, credit-rating.
At this point I don't know what to think. The other builders rallied 3% to 5% off their lows today. Not this guy - it finished down 4.4% to a new 52 week low. TPH would be the LAST company that I would expect to act like this.
Maybe Livinginsv.... is right ...it's just an easy target for shorts who call each other up on the phone, set up a strategy, and pile on en masse. All's I know is that I keep buying more of it (along with GFA yesterday) and losing more every time I do. This was supposed to be the "Do not sell in May" year. For me, this will be the last year I EVER hold domestic stocks after May 15. It's simply an act of pointless futility. 6 months of profits are destroyed in 2 to 3 weeks. 2010, 2011, 2012, 2013 - like clockwork - the destruction begins in May and lasts most of the summer. An investor would have been better to sell in May and DO ABSOLUTELY NOTHING FOR THE NEXT 3 MONTHS AND TAKE A VACATION than put up with this rot. You could say the game is rigged; I just think it is the way it is. Anyone who holds stocks from May to September loses his butt.
I feel your pain. I learned my lesson the hard way when the market crashed in 2008. I thought I had great companies with excellent fundamentals and buy-and-hold was the right strategy. I was wrong and I will never again trust any stock if it keeps going down.
me? . . . right? . . . i should mention i'm not very good at this, lol . . . i'm down a quick point + . . .
the institutions own 51%, i doubt they are selling . . . short sellers trade on TA, not fundamentals . . . it's not profit until you sell, nor is it a loss . . . the next SI report is due this week, we shall see if they piled on from 6/1-6/15 . . . manipulation is part of the game, patience wins . . . for good companies, and like you, i can't find any negatives in TPH's future . . . GLTL
I have sold most of my TPH holdings. Kept a small number of shares. Will buy more when I see a rebound possibly when the 3rd quarter financial results (ER) will be out. I like this company but loosing money is no fun.
I think there is pretty good information on this message board about TPH. Maybe read through that. Seems like there are a few experienced investors who like what they see thus far. TPH is easily is the lowest price to book of any of the builders, and its markets are CA and CO - the two hottest real estate markets in the western U.S. Go figure. Last year I bought KBH when it had a 62% short position and very negative news surrounding it. I liked how that turned out. Traders always seem to win in the short-term; investors over time.