They had beaten EPS,increased REVS and "talked" up this stock every last report...UNTIL today..At 245 eps..oops!!No real worth in this mkt UNTIL they can show that they can continue to accelerate the EPS/Maybe too much new competition and stock has to fall back to a better price?It got down to 93 before shorts covered .Tomorrow I think it sells off hard.
NBG was down in Athens about 3% earlier ....stress tests are coming and ECB rumor that the Greek banks may need higher marks is the negativity.I doubt if that's true.
I suspect the big players here want to buy up NBG cheap before any REAL news.
Current price is still way below book value which is about $3 a share.The mkt price is still being held back because it is not "known" whether NBG meets refinancing protocol.Once results of stress tests are published ALL will know.The "risk" here is they don't meet protocols ,but I think EU is solidly behind "fixing" the Greek problem.I think the Greek politicians ALSO now "get it"..Ya gotta work together and "adjust" to the realities or sink your co captained boat.
Current valuation of stock price adding in cash from sale .They also own a good share in Bulgarian banks that is being solicited for sale.
That's about $3 a share IF..big IF they get that.Seeing they have potentially 4 bidders is very positive especially with who bidders may be.
Its proposed sale 'rumor" of its Turkish bank is for 5.5B...If true, this means it can gain twice its current mkt value from that sale....wow just realized this.