Our friend David may have been tipped on the whole Interest Rate potential hike, sold assets to hoard all this cash prior to the Interest rate hike, which would inevitably cause the stock to drop.
At that point he would use his magic powers to offer a tender on shares below $13, hoping the stock tanks...
Wait, is this the same Hamo that basically used NSAM as a charade to siphon off millions to his slush fund on the weekends? I guess it can't be the same guy.
Already prepping my proxy card to vote them all out. Maybe we should all show up to the meeting and voice our frustrations. Free water and maybe a snack for us peon shareholders?
The NAV was lowered in conjunction with the change in lodging cap rates.
I am glad they responded. It shows me they actually care to fight, which to me is important.