They gave a preview of what it's going to look like the rest of 2015 and that's why this popped above $30 but has since crashed again. This one is probably a lost cause short term, mind as well get back into oil stocks if crude is bottoming short term.
It's kind of weird that it's trading at $3+ level since that was about where this was trading at when crude was closer to $60. Now it looks like it can be $5 stock if crude recovers back to that level? Except I just don't see crude jumping back to $60 any time soon but maybe closer to $55 in a month or two. By then EXXI will report earning and from all indications that can't be too good.
How do you expect them to do that? Any free money should be used to grow operations to generate additional revenue in order to offset loss of Ocwen business, not to purchase shares to makes shareholders happy short term.
Stock buybacks will only prop shares short term, but if your business is sound and growing the stock price will take care of itself.
Yeah they were called morons also for buying back shares at $100+. Didn't they already spent 200 million buying back shares? That money could' have been used more wisely to reduce the debt or for other operations.
Well if you believe this is going down with Ocwen then I wouldn't touch it. But if you think going forward after 2015 it'll still be in business and making $ then you always want to scoop it up when everyone is dumping. I was in impv and PTCT, gave them up for cheap and now they either doubled or tripled.
Made some $ in calls when this dipped around $1005 earlier. But not buying this for long term rally as the downtrend clearly will take this below $1000 soon.
Nothing going on except oil stocks rebounding as many speculating crude has bottomed at around $45 and making a move upward. It'll be interesting since EXXI was trading at around $3 when crude was $55 instead of $45...
That in my opinion is a grossly misuse funds. This company still has debt and if they have the cash flow it should be used to reduce the debt or for other operations. Buying back company shares for any company never makes any sense.
I know they eliminated the insurance part of their operation. Besides that this stock was $160 so not sure if the hard fall is all tied to Ocwen? Just based on their last revenue projection is tough to understand how this is trading at this level as revenue back in 2013 was about the same yet traded above $150?
It's not a lie except 24/7 WS also tried to pump it saying massive upside under $10 on Dec 6 and look what the stock has done lol.
Which one of these is a better trade now as they're at about the same price level?
LF probably is a little safer with a base at $2 considering the cash position at hand even though their business has deteriorated considerably.
In a way Citi is right as this stock is only getting boosted by day traders unless the company comes out and clarify the financial situation to the positive side and news that they're able to retrieve some part of client losses. Otherwise long term this is heading down and you may get lucky here and there for a bounce but...
Well it's closer to $2 now premarket so you may like it even more if it opens at a buck below your target.
Why I'd be very scared if I was short. Stock up $19 and down 19 cents with the downgrade news lol. Not to mention the $65 pop yesterday. If this stays above $420 tomorrow shorts will be on the edge next week.
Yeah if the term was give us the $ when we really need it but no they will be paying interest along with other rules imposed so they don't get this assurance for free.
Well anyone buying at this level just because it has come down from $306 deserves to lose $ given the fact that the Icahn rumor has essentially been squashed so some are still hanging on false hopes here.
Yeah right. Too many dreamers here since the rumor has already been denied so this should work itself toward 52 week low soon again.
Just people buying at the high slowly giving it up now. This should be at even or lower before the end of the day.
Lol I wouldn't be looking at this stock if I have 1.5 million in my account let alone put it all in this one.