Total of 4 new coverages with one at equal weight and 3 at BUY or better within a week's time!!! And folks are not realizing the big boys see those analysts new coverage and have decided to shake weak hands; but retail is also seeing those coverages and NBG's balance sheet with billions in cash and an improving top and bottom lines and so retail is awakening fast. Just look at how the attempts to trash it this morning is already in trouble. Retail is not selling anymore because they know NBG is going much much higher.
GREEN TODAY. Watch and learn.
Sentiment: Strong Buy
Two major financial institutions rushing to start coverage on NBG on the same day! Wow; NBG is getting pretty hot with big boys paying attention. NBG will be flying soon enough.
I saw that also on my TD Ameritrade site but Yahoo not showing it yet. Yahoo was also behind with Nomura upgrade; what is the deal with Yahoo?
We shall overcome.
I am surprised the stock is only up a mere 2%. I think big boys are holding it down to see if they can shake some weak hands and buy their shares. Hang on to your shares..this is a multibager.
funniest thing on this board ever...Buchanan is so dumb that to get to fair value he goes reverse splits and share increases rather than simply look at the market cap then and now; and of course to prove he is also ignorant his fair value does not even mention revenues, earnings/profits, cash, debt, etc at all. and yet he thinks he is smart; well he is not just smart but rather smartazz...
Talk about a low IQ...Have you seen his other post where he goes through all the reverse splits and share increases in order to #$%$ current FV where he could simply look at the market cap now and then? Funny thing is that this idiot does not even look at the earnings and revenues and cash on hand to come up with his FV !!! Wow !
It is all bs. there is NO NEW NEWS since yesterday to justify this going down even a single penny. This is because S&P upgrade yesterday is prompting the hedge funds to crash the price and shake weak hands so they can pick up their shares. S&P upgrade alerted the hedgies about the value of this jewel.
I won't be surprised if we close GREEN today.
The recent fund raising by NBG added 1.15 billion shares to its 2.5 billion shares and now has a total of 3.5 billion shares. That is still far below some other banks out there such as Banko Santader (SAN) that has a float of over 11.5 billion and yet has a share price of over $10 with a market cap of over $117 billion.
The NBG offering should have been a positive for the stock as the money was used to buy back preferred state shares and the balance added to their cash savings; meanwhile the Greece's share of the bank dropped to 57% from the previous 84%.
So then why is the shares have been dropping you ask?
The sole reason for the nearly 50% haircut in the past 2-3 weeks, and the sole reason for the hair cut this morning, is that the NBG officials were so irresponsible to price the offering at a ridiculously low 2.2 Euro ($3.05) and that is exactly where we are at this morning. Could the price drop even further? possible but unlikely; Could it go back to $5.70 of 2-3 weeks ago? most definetly and may be faster than people think.
I believe I read on this message board somewhere that lock up period ends on May 20th but I have not been able to actually find a report on that. I will try to find something and if I do will post it.
Sure...they offered new shares and hence diluted the current shareholders by about one third...But in return they raised much $$$ which they are using to buy preferred shares and adding to their cash pile and not spending a dime of it.
So why the near 50% haircut in 2-3 weeks? Even the investors knew this is outrageous and that is why it was oversubscribed by three folds.
By the way, those very investors, will never sell below the $3.05 they just paid for shares and expect the shares to hover around 3.05 for a very short while before begin ascending again.
Okey...Finally you agree what is behind the sell off which is what I expected to happen in 3 days but even then I did not think it would take right down to 2.2 euro offering price ($3.05).
Then what is all those other garbage you've been feeding the board all morning about the reason behind the sell off.
Red, you may be short; but you are definitely and 100% an extremely dishonest one.
I kind of agree that the drop could very well be because HFSF cashing out. No wonder the haircut is right upto and around 2.2 euro offering price. I think this claim that possible future sale of their shares in Finansbank being behind the drop is simply a ploy by shorts such as red.
I read that; but can you explain in laymen's term? Is it dropping because they may sell their shares in Finansbank? But for months they had said they may do so...besides, they have not sold yet!!!
What is happened since close of the market yesterday that is NEW?
can someone clarify? That is a big drop for something already known which has not even happened yet. Besides despite some claims they could change their mind. and even if they do sell is not like they can't use the money to buy back more preferred state shares or buy other better things, etc.
Also, even if they do sell it could be because they forecast future profit from NBG alone and their other investments.
I believe this may be just a ploy to shake weak hands. But I could be wrong!
May 14, 2014
14:02 EDT NBG S&P raises National Bank of Greece, others to 'CCC+'
Standard & Poor's raised to 'CCC+' from 'CCC' its long-term counterparty credit ratings on Greek banks Alpha Bank, Piraeus Bank, National Bank of Greece (NBG) and Eurobank Ergasias. The rating agency said the banks' "creditworthiness has improved due to continued access to the liquidity facilities provided by the European authorities, the recently completed capital increases, and the reduction in downside risks caused by the gradual stabilization of the Greek economy."
Sentiment: Strong Buy
NBG has a tendency to fly at times specially in the face of good news. Last year about this time it zoomed from about where the price is now to over $24 before coming back down. So just know anything is possible with NBG and now with these new big investors on board it not only has a support with little if any downside from here but expect these new investors try to help in anyways they can to get the price to soar. Afterall that is what these guys do...buy low and sell high. I suspect their combined research is also shown that Greece economy is on the mend and so is NBG...that is why they would not buy into such offering in the last 5 years but suddenly they have a change of heart.