Sold out the last half of my shares today. Bought a chunk at 2.15. I sold half around 2.80, when it popped about a month back, and sold the rest today at 2.93. Collected a few divys in that time too.
I think the stock will survive, they announced dividend for the next 2qtrs, BV is above $3.
BUT - I had an inkling that it was time to get out after this recent run.
Over the last three days, some investors seem to have lost sight of the fact that a significant date related to the release of restatements passed without progress, and slightly over 20% of the dividend is return of capital. What's distressing about the dividend situation is that CIM's appears to have slowed or stopped the profitable activities associated with non-Agency paper.
Very good for you. You have been getting in and now out at the right times. I'm not so optimistic about survival. I've only had 3 clients in the past that were delaying financial reporting this long and sadly all 3 didn't make it. Maybe for the shareholders that are continuing to take the gamble on Chimera they will fair out better.
Sentiment: Strong Sell