Did you read the conference call transcript? CIM management said they like this volatile enviroment! At somepoint, they will be selling agency stuff to buy uip on firesales... Great! I'm, in for the medium/long term and CIM will be making som great buys in the coming months at huge discounts. As the management put it: "We have a lot of dry powder".
Of course FIDAC have been trying to sell investors the "we have great investing opportunities" since last year when they were issuing stock like crazy. A year later, the stock is down almost 30% and dividends have declined while we have over ONE BILLION outstanding shares.
unless the idiots running the ship are all fired, the prospects of this stock hitting $4 anytime soon are NIL.
What makes you think that the same idiots that have driven the stock from $19 to $3 in a couple of years are going to be able to turn around this sinking ship?