That might be a good play. But I was making the point that meeting drove the Wednesday news (though I believe the meeting was actually on Thursday) that caused this bank's shares among others to plummet. Financial Times, for instance, initially ran a headline that said something like 'default imminent.' They later on Wednesday morning changed that headline to something more benign, but the damage had been done.
Yeah, all that - besides the latest restructuring rumor took down more than just FBP - if I was with that bank, I wouldn't think it was necessary to issue anything. If anything, Financial Times should put out something more than just a headline switch mid-morning (last Wednesday). Their initial headline that day called muni default imminent. That's when the sell off started.
There are other forces at work, and there is news - just not under the FBP ticker. Google Puerto Rico bonds and you'll see what I mean. There is growing speculation of a municipal bond default. Creditors held a meeting last week in New York to discuss options, without inviting island administrators. That's why the big drop of all related Puerto Rico stocks and bonds last week. But the news pendulum is starting to swing back, with island administrators saying that meeting to discuss debt restructuring options was misguided because default isn't imminent (they say) and other contrarians have jumped in saying things aren't so bad there. I think that's why we saw some ground made up today.
Hey eoinmnm, long time no talk. Looks like I'm back - the message board wasn't working for me for a long time. Cute CEO, but I don't know about functionality. Anyway, on a whim, I tried again tonight, and it let me in. As for the research ads, never trust anything advertised in the trailer park, at least that's my take.