Agree, bad earnings report and lowering of next dividend, along with reduction of estimates for Dec & Mar16 quarters. However, the company is still projected to earn (at this point) about $1.27 next year, so it is a big overreaction in my opinion and will turn around significantly.
If interest rates go up, value of fixed preferred stock dividends goes down. That said, if the Fed raises rates in Dec, it will likely be small and1 and done. In the meantime, we enjoy the high secure dividend.
From a fundamental standpoint I completely agree, but it appears due to the low float those short can still affect the stock price. I still expect fundamentals will win out bigtime eventually.
Well, about all we can do as a shareholder is vote against the board, compensation, etc. based on poor performance and over compensation. However, if the shares are given in the form of options, they only have value if the stock price goes up. That said, they may be salivating right now for options which will be granted at the current price.
That should have been, as in the case of most corporations, based on Company performance. Don't know if it was. If not, the Board along with Novogratz should be fired/removed.